Green Systems Sold and Delivered Modems to Blue Computers for $660,000

question 130

Multiple Choice

Green Systems sold and delivered modems to Blue Computers for $660,000 to be paid by Blue in three equal installments over the next three months.The journal entry made by Blue Computers to record the last of the three installment payments will include:

• A)A debit of $220,000 to Modem Expense.
• B)A debit of $220,000 to Accounts Receivable.
• C)A debit of $220,000 to Cash.
• D)A debit of $220,000 to Accounts Payable.

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Definitions:

Support Group

A gathering of individuals who share common experiences or challenges and come together to provide mutual assistance and encouragement.

Values-Clarification Group

A type of group therapy or educational setting where participants explore and share their values to better understand themselves and others.

Encounter Group

A meeting format aimed at increasing participants' awareness of their own and others' feelings and behaviors through direct, personal interaction.

Gay-Pride Group

An organization or community focused on promoting self-affirmation, dignity, and equal rights for gay individuals.