When the Sales Journal's Column for Accounts Receivable and Sales

question 45

Multiple Choice

When the sales journal's column for accounts receivable and sales is totaled at the end of the month, its total is:

• A) Debited to Sales and credited to Accounts Receivable.
• B) Debited to Accounts Receivable and credited to Cash.
• C) Debited to Cash and credited to Accounts Receivable.
• D) Debited to Accounts Receivable and credited to Sales.
• E) Debited to Cash and credited to Sales.

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Definitions:

Investment Opportunity

A specific financial asset, product, or project that an individual, organization, or entity invests in with the expectation of generating a favorable future return.

Central Tendency

Statistical measures that describe the center or typical value of a dataset, including mean, median, and mode.

Expected Value

The weighted average of all possible outcomes of a random variable, with weights being their respective probabilities of occurrence.

Weighted Average

A calculation that takes into account the different weights or importance of some elements in a data set, providing a mean value that reflects these weights.