A Payment of $350 Was Received from a Charge Customer

question 38

Multiple Choice

A payment of $350 was received from a charge customer and recorded and posted as $305. The necessary correcting entry is

• A)debit Cash, $45; credit Income from Services, $45.
• B)debit Cash, $45; credit Accounts Receivable, $45.
• C)debit Accounts Receivable, $45; credit Cash, $45.
• D)debit Cash, $45; credit Accounts Payable, $45.
• E)credit Cash $45; debit Accounts Receivable, $45.

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Definitions:

Jeffrey Arnett

A psychologist known for his research on emerging adulthood, a developmental stage between adolescence and full-fledged adulthood.

Emerging Adulthood

A phase of the life span between adolescence and full-fledged adulthood, typically from the late teens through the twenties, marked by exploration and self-discovery.

Features

Distinctive attributes or aspects of something or someone that help in identification and description.

Sexual Harassment

Unwelcome sexual advances, requests for sexual favors, or other verbal or physical harassment of a sexual nature.