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At the End of 2014, CNC Corporation's Accounting Information System

question 37

Multiple Choice

At the end of 2014, CNC Corporation's accounting information system produced the following trial balance: CNC completed the following transactions in January 2015: a.Purchased inventory on account, $300.
B.Collected cash from customers for prior year sales, $500.
C.Paid current month's wages, $900.
D.Had land appraised.Cost of doing the appraisal (paid in cash) , $700.Appraised value of land, $3,000.
E.Sold inventory with a cost basis of $200 on account, $800.
F.Declared dividends, $50.
G.Hired additional sales staff.Expected monthly salaries, $80.
H.Purchased supplies for cash, $150.
i.Paid creditors for previous purchases, $150.
j.Signed a contract for annual employee retreat, $450.In CNC's general ledger, the account number for inventory is 105.The account number for land is 201.Which of the following transactions will involve the account numbered 301?

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Definitions:

Acetylcholine

A neurotransmitter in both the central and peripheral nervous systems that plays a crucial role in muscle movement and cognitive functions.

Adrenaline

Also known as epinephrine, a hormone and neurotransmitter that increases heart rate, contracts blood vessels, dilates air passages, and participates in the fight-or-flight response of the sympathetic nervous system.

Nociception

The sensory nervous system's response to potentially harmful stimuli, signaling pain to the brain.

Nociception

The sensory nervous system's response to certain harmful or potentially harmful stimuli.