If the Individual Subsidiary Ledger Accounts of Accounts Receivable and Accounts

question 16

Multiple Choice

If the individual subsidiary ledger accounts of Accounts Receivable and Accounts Payable contained the following data: Cadence Company - Vendor - $250 credit balance
Franklin Enterprises - Customer - $750 debit balance
Marcelo Construction - Client - $125 - debit balance
Peyton Supplies - Supplier - $375 - credit balance
The Accounts Receivable (A/R) controlling account and the Accounts Payable (A/P) controlling account balances would be:

• A) A/R - $1,000, A/P - $500
• B) A/R - $625, A/P - $875
• C) A/R - $875, A/P - $625
• D) A/R - $750, A/P - $750