Martin Company Needs Additional Time to Pay Its Accounts Payable

question 39

Multiple Choice

Martin Company needs additional time to pay its accounts payable to Boster Company.Martin makes a written promise to pay Boster the amount on a certain date.Boster records this transaction as follows:

• A)debit Notes Receivable; credit Accounts Receivable.
• B)debit Cash; credit Accounts Receivable.
• C)debit Accounts Receivable; credit Notes Receivable.
• D)debit Notes Receivable; credit Cash.

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Definitions:

Purposeful

Having or showing determination or resolve; intentional in one's actions towards achieving a specific goal.

Proofreading

The process of reading and marking errors in text to ensure accuracy and consistency in spelling, grammar, and formatting.

Complex Documents

Detailed and multifaceted pieces of information that may contain a mix of text, graphics, and data.

Communication Channel

The medium through which a message is transmitted from sender to receiver, such as email, phone, or face-to-face.