Joe Files a Voluntary Petition for Chapter 7 Bankruptcy

question 37

Multiple Choice

Joe files a voluntary petition for Chapter 7 bankruptcy.His petition does not need to include

• A)a list of Joe's secured creditors.
• B)a list of Joe's unsecured creditors.
• C)a list of the occupations of all Joe's creditors.
• D)the addresses of all Joe's creditors.

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Definitions:

Cash Recorded

The accounting entry that reflects the actual amount of cash received and recorded by a business during a specific period.

Revenue Journal

A revenue journal is a record used in accounting to keep track of the sales of goods and services that generate revenue for an entity.

Accounts Receivable

Funds that are due to a company from clients for products or services provided on credit.

Fees Earned

Revenue from providing services.