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:

Metaphase

The stage of mitosis in which the chromosomes line up on the midplane of the cell (metaphase plate). Occurs after prometaphase and before anaphase.

Cytokinesis

The process in cell division during which the cytoplasm of a single eukaryotic cell is divided to form two daughter cells.

Actin

A protein that forms microfilaments and is involved in various cellular processes, including muscle contraction and cell movement.

Myosin

A protein that, together with actin, is responsible for muscle contraction.