Question 15 of 20 50 50 points the beginning balance

  • Ashworth College
  • EXAM 3
  • Test Prep
  • Yankee7903
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Question 15 of 20 5.0/ 5.0 Points
The beginning balance in Cash was $3,500. Additional cash of $2,000 was received. Checks were written totaling $2,500. The cash balance is __________.
Question 16 of 20 5.0/ 5.0 Points Which of the following types of accounts has a normal credit balance?
Question 17 of 20 5.0/ 5.0 Points When recording transactions in two or more accounts and the totals of the debits and credits are equal, it is called __________.
Question 18 of 20 5.0/ 5.0 Points The business bought supplies on account. To record this __________. A. an expense is debited and a liability is credited B. an asset is debited and an asset is credited C. an asset is debited and a liability is credited D. None of the above answers are correct.
Question 19 of 20 5.0/ 5.0 Points Accounts Payable had a normal starting balance of $800. There were debit postings of $600 and credit postings of $300 during the month. The ending balance is __________.
D. $1,000 credit Question 20 of 20 5.0/ 5.0 Points The owner of BobCats R Us paid his personal MasterCard bill using a company check. The correct entry to record the transaction is __________.

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