A Business Makes a Cash Payment of $12,000 to a Creditor

question 62

Multiple Choice

A business makes a cash payment of $12,000 to a creditor. Which of the following accounts will be credited?

• A)Cash
• B)Accounts payable
• C)Bank
• D)Accounts receivable

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Definitions:

Ficoroni Cista

An ancient Etruscan bronze container known for its elaborate decorations and the detailed scenes that depict mythological events, dating back to the 4th century BCE.

Inscription

is a written or engraved message, often found on monuments, coins, or buildings, providing historical, commemorative, or identifying information.

Engaged Column

A half-round column attached to a wall. See also pilaster.

Pilaster

A flat, rectangular, vertical architectural element that protrudes slightly from the wall, resembling a column but mainly ornamental and not structural.