B 23900 Income Taxes Payable C 24500 Contracts Payable D 23100 Sales Tax

B 23900 income taxes payable c 24500 contracts

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B) 23900, Income Taxes Payable. C) 24500, Contracts Payable. D) 23100, Sales Tax Payable. E) None of the above. Feedback: Correct (23100, Sales Tax Payable) 5 CORREC From the Navigation Bar make the following selections to record a cash sale:
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T A) Vendors & Purchases Navigation Center > click on the Pay Bill icon > select Pay Bill > apply to invoices/Record cash sale B) Customers & Sales Navigation Center > click on the Customers icon > select New Customer. C) Customers & Sales Navigation Center > click on the Receive Money icon > select Receive Money from Customer. Then, type the transaction date in deposit ticket ID field > type Cash in the Reference field > Apply to revenues tab > enter the cash sale. D) Customers & Sales Navigation Center > click on the Receive Money icon > select View and Edit Payments Received > Apply to invoices/Record cash sale. E) None of the above. Feedback: Correct (Customers & Sales Navigation Center > click on the Receive Money icon > select Receive Money from Customer > type the transaction date in deposit ticket ID field > type Cash in the Reference field > Apply to revenues tab, > enter the cash sale.) True or False 1 CORREC T From the Navigation Bar, to set up customer defaults use the Customers & Sales Navigation Center, click on the Customers icon and select New Customer. A) True. B) False. Feedback: Correct (Use the Customers & Sales Navigation Center, click on the Customers icon and select Set Up Customer Defaults.) 2 CORREC T Credit transactions from vendors are called accounts receivable transactions. A) True.
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B) False. Feedback: Correct (Credit transactions from customers are called accounts receivable transactions.) 3 CORREC T A sales tax code is used in Sage 50 to allow for selection of the appropriate sales tax when entering sales invoices. A) True. B) False. Feedback: Correct 4 CORREC T Two types of sales are entered in Sage 50: Credit sales or invoiced sales and Cash sales. A) True. B) False. Feedback: Correct 5 CORREC T On the Customers & Sales Navigation Center, Sage 50 illustrates the accounts receivable system. A) True. B) False. Feedback: Correct
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