A Business Has the Following Transactions: the Business Is Started

question 143

Multiple Choice

A business has the following transactions: the business is started by receiving $20,000 from the owner. The business purchases $500 of office supplies on account. The business purchases $2,000 of furniture on account. The business renders services to various clients totaling $10,000 on account. The business pays out $2,000 for salaries expense and $3,000 for Rent Expense. Business pays $500 to supplier for the office supplies purchased earlier. The business collects $3,000 from one of its clients for services rendered earlier in the month. At the end of the month, all journal entries are posted to the ledger. The Accounts Receivable account will appear as:

---

Definitions:

Win-Win Attitude

An approach to conflict resolution and negotiation where all parties work together to find a solution that satisfies everyone's interests.

Mediators

Neutral third parties who facilitate negotiations and conflict resolution between disputing parties aiming for agreement.

Competencies

Skills and abilities that enable an individual to perform tasks successfully.

Diagnose Conflict

The process of identifying the source, nature, and scope of a disagreement or dispute.