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Ch1 Acc 212

Quiz by T.Muna

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3 questions
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  • Q1
    Q1: what is the credit side if the Sold goods to customer cash
  • Q2
    Q2: what is the debit side and credit side if purchase goods on credit.
    Debit Merchandise inventory Credit Account payable
    Debit Cash Credit Machine
    Debit Merchandise inventory Credit Cash
    Debit Machine Credit Account Recivable
  • Q3
    Q3: Sold goods on Credit what is the entry?
    Debit Account Receivable  Credit Cash
    Debit Account Payable Credit Cash
    Debit Account Payable Credit Sales
    Debit Account Receivable  Credit Sales

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