Which of the Following Entries Would Be Recorded If a Company

question 43

Multiple Choice

Which of the following entries would be recorded if a company uses the cash basis method of accounting?

• A) \[\begin{array} { | c | r | r | }
• \hline \text { Cash } & 1,000 & \\
• \hline \text { Accounts Receivable } & & 1,000 \\
• \hline
• \end{array}\]
• B) \[\begin{array} { | c | r | r | }
• \hline \text { Salary Expense } & 1,000 & \\
• \hline \text { Salary Payable } & & 1,000 \\
• \hline
• \end{array}\]
• C) \[\begin{array} { | c | r | r | }
• \hline \text { Prepaid rent } & 1,000 & \\
• \hline \text { Cash } & & 1,000 \\
• \hline
• \end{array}\]
• D) \[\begin{array} { | r | r | r | }
• \hline \text { Rent Expense } & 1,000 & \\
• \hline \text { Cash } & & 1,000 \\
• \hline
• \end{array}\]

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