A Business Renders Services to a Customer for $26,000 on Account.Which

question 92

Multiple Choice

A business renders services to a customer for $26,000 on account.Which of the following accounts is debited?

• A)Cash
• B)Accounts Receivable
• C)Service Revenue
• D)Accounts Payable

---

Definitions:

Wage Bracket Withholding Table

A table used by employers to determine the amount of tax to withhold from an employee's wages based on their earnings and tax bracket.

Federal Income Tax Withholding

The amount of an employee's pay withheld by the employer and sent directly to the government as partial payment of income tax.

FICA Payroll Tax

Federal Insurance Contributions Act tax, a U.S. law requiring a deduction from employees' paychecks and employer contributions to fund Social Security and Medicare.

Social Security

A government program that provides financial assistance to people with inadequate or no income, especially the elderly, disabled, and unemployed.