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Quiz 2 - Name Quiz 2 Requires Respondus LockDown Browser...

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Name Quiz 2 - Requires Respondus LockDown Browser Description This quiz covers material from chapter 3. Instructions You have 45 minutes to complete the quiz . Multiple Choice: When a corporation pays a note payable... 0.5 points Question When a corporation pays a note payable and interest, Answer the account Notes Payable will be credited. the account Interest Expense will be credited. it will debit Note Payable and Interest Expense. it will debit Cash. Multiple Choice: A trial balance 0.5 points Question A trial balance Answer proves that debits and credits are equal in the ledger. supplies a listing of open accounts and their balances that are used in preparing financial statements. is normally prepared three times in the accounting cycle. all of these. Multiple Choice: A journal entry to record a receipt of... 0.5 points Question A journal entry to record a receipt of rent revenue in advance will include a Answer debit to Prepaid Expense.
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