Markus Company Maintains a Separate Accounts Receivable Account for Each

question 90

Multiple Choice

Markus Company maintains a separate accounts receivable account for each customer.On June 18,Markus sells $6,200 services on account to customer Anthony and $1,600 services on account to customer Walker.How will these two transactions affect the control and subsidiary accounts?

• A)The control account,Accounts Receivable,will be increased with a debit of $7,800.
• B)The individual customer accounts in the subsidiary ledger will be increased with credits.
• C)After posting this sales transaction,the sum of the balances in subsidiary accounts receivable will not equal the control account balance.
• D)The control account will have a debit balance and the subsidiary accounts will have a credit balance.This keeps the accounting equation in balance.

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Definitions:

Reading Program

Structured plan or curriculum designed to improve reading skills and comprehension, often involving specific techniques, exercises, and materials geared towards learners of different levels.

False Consensus

The tendency to overestimate how much other people agree with our own beliefs, behaviors, and attitudes.

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Qualities or traits that are considered attractive, valuable, and sought-after in individuals or items.

False Consensus Effect

The cognitive bias that leads an individual to overestimate how much other people agree with them or share their beliefs and behaviors.