Journal Entry Question 1B

User Generated

prqjneqf76

Business Finance

Description


See the transactions to Newton & Associates. The journal entry to record the May 23 transaction will include a credit of $430 to:Choose one answer.

 

 

  a.

  Cash

 

  b.

  Salaries Expense

 

  c.

  Accounts payable

 

  d.

  Prepaid Expenses


Unformatted Attachment Preview

Newton & Associates Use the following five transactions for Newton & Associates, Inc. to answer the question(s). May 1 Bills are sent to clients for services provided in April in the amount of $800. 9 City Office, Inc. delivers office furniture ($1,060) and office supplies ($160) to Newton leaving an invoice for $1,220. 15 Payment is made to City Office, Inc. for the furniture and office supplies delivered on May 9. 23 A bill for $430 for electricity for the month of April is received and will be paid on its due date in June 31 Salaries of $850 are paid to employees.
Purchase answer to see full attachment
User generated content is uploaded by users for the purposes of learning and should be used following Studypool's honor code & terms of service.

Explanation & Answer


Anonymous
Excellent! Definitely coming back for more study materials.

Studypool
4.7
Trustpilot
4.5
Sitejabber
4.4

Related Tags