The Purchase of Office Computers for Cash Includes a Debit

question 44

Multiple Choice

The purchase of office computers for cash includes a debit to:

• A)Cash and a credit to Office Equipment.
• B)Office Equipment and a credit to Accounts Payable.
• C)Accounts Receivable and credit to Office Equipment.
• D)Office Equipment and a credit to Cash.

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Definitions:

Net Sales

The amount of sales revenue left after deducting sales returns, allowances, and discounts from the total gross sales.

Cost of Goods Sold

An expense measured as the total direct costs attributable to the production of goods sold by a company.

Departments

Distinct divisions within a company or organization designated to handle specific tasks or functions, such as sales, marketing, or human resources.

Catering Department

A division within a company or a facility that is responsible for providing food services for events, meetings, and functions.