Use the Following to Answer Questions

question 7

Essay

Use the following to answer questions
Using the chart of accounts provided,indicate by account number the account or accounts that would be debited and credited in the following transactions and indicate the type of transaction as: (1)an external transaction, (2)an internal transaction recorded as an adjusting journal entry,or (3)a closing entry.The company uses a perpetual inventory system.All prepayments are initially recorded in permanent accounts.

-Accrued the interest earned but not collected on notes receivable.

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Definitions:

Remove Field

The action of deleting a specific field or column from a database, spreadsheet, or form, often to simplify data or adjust structure.

Column Heading

A title or label at the top of a column in a table or spreadsheet, indicating the content of the column.

List Database

A database specifically organized as a list, where data is stored and accessed sequentially or by some criteria.

Collection

In programming, a collection refers to a group or structure used to store multiple values or objects, allowing for data management and manipulation.