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#1 2018-08-07 03:42:50

Muhammad
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بِسمِ اللَّهِ الرَّحمٰنِ الرَّحيمِ
From: Sahiwal Division
Registered: 2012-03-22
Posts: 22,033
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Financial Accounting Quiz MCQs Quiz Question.

Accounting Quizzes Financial Accounting Quiz MCQs

Question:
Jolly Roger sells $500 of red wine to the Flamingo Bar and is paid by check. The correct entry to the accounts is:

Option A):
Debit the bank account with $500 and the sales account with $500
Option B):
Debit the bank account with $500 and credit the sales account with $500
Option C):
Debit the purchases account with $500 and the sales account with $500
Option D):
Debit the sales account with $500 and the bank account with $500

Correct Answer is Option B):
Debit the bank account with $500 and credit the sales account with $500


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2018-08-07 03:42:50

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