The Journal Entry to Record the Conversion of an $550

question 131

Multiple Choice

The journal entry to record the conversion of an $550 accounts payable to a notes payable would be:

• A) Cash 550 Notes Payable 550
• B) Notes Receivable 550 Notes Payable 550
• C) Notes Payable 550 Cash 550
• D) Accounts Payable 550 Notes Payable 550

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Definitions:

Printer

An external or internal device that transfers digital documents and images onto physical paper or other media.

Digital Information

Data that has been encoded digitally, allowing for storage, retrieval, and manipulation on electronic devices.

Spooling

The process of sending data to a temporary storage area between the source and the destination to manage or synchronize the data flow.

Output

The result or product of a process, such as data or material, which is produced or delivered by a computer or machine.