A Business Maintains Subsidiary Accounts for Each of Its Customers

question 166

Multiple Choice

A business maintains subsidiary accounts for each of its customers.On May 15,the business sells services on account: $2,500 to customer J.Simmons;$4,100 to customer A.Jones;and $1,300 to customer J.Williams.Which journal entry is needed to record this sales transaction?

---

Definitions:

Absolute Advantage

The ability of an entity to produce a good or service more efficiently than its competitors, using fewer resources.

Specialize

To concentrate on a particular area of study, work, or production, often to gain higher proficiency or efficiency.

Shirt

A shirt is a garment covering the upper body, with sleeves and typically a collar and buttons down the front, worn by both men and women.

Pie

A metaphorical representation of a total market or economy, which can be divided among participants.