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To record the payment of a purchase invoice when a cash discount is taken, the accountant would debit _____and credit __________. A. Accounts Payable; Purchases Discounts and Cash B. Accounts Payable and Purchases Discounts; Cash C. Accounts Payable; Cash D. Purchases; Purchases Discounts and Cash
Weegy: To record the payment of a purchase invoice when a cash discount is taken, the accountant would debit ACCOUNTS PAYABLE and credit PURCHASE DISCOUNTS AND CASH. [ ] (More)
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Expert Answered
Asked 12/4/2013 2:41:45 PM
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Allowance for Doubtful Accounts is: A. subtracted from Accounts Receivable in the Assets section of the balance sheet. B. deducted from Sales in the Revenue section of the income statement. C. listed in the Operating Expenses section of the income statement. D. listed in the Liabilities section of the balance sheet.
Weegy: The allowance for doubtful accounts is a balance sheet account that reduces the reported amount of accounts receivable. [ (A change to the balance in the allowance for doubtful accounts also affects bad debt expense on the income statement.) Providing an allowance for doubtful accounts presents a more realistic picture of how much of the accounts receivable will be turning to cash. After all, a company selling products (or services) on credit to thousands of customers will likely have a few customers who will not be able to pay the full amount they owe to the company. ] (More)
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Expert Answered
Asked 12/4/2013 9:31:53 PM
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Which one of the following choices best represents the body’s response to stress? A. Dehydration B. Tense muscles C. Slow breathing D. Increased blood flow to the kidneys and liver
Question
Not Answered
Updated 12/19/2013 3:41:34 PM
1 Answer/Comment
B. Tense muscles is the choice which best represents the body’s response to stress.
Added 12/19/2013 3:41:34 PM
This answer has been confirmed as correct, not copied, and helpful.
Confirmed by andrewpallarca [12/28/2014 12:26:49 PM]
Falls in old age are usually the result of A. osteoporosis. B. arthritis. C. poor nutrition. D. poor balance.
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Not Answered
Updated 34 days ago|1/24/2015 8:02:02 AM
1 Answer/Comment
Falls in old age are usually the result of poor balance.
Added 34 days ago|1/24/2015 8:02:02 AM
This answer has been confirmed as correct, not copied, and helpful.
Confirmed by selymi [1/24/2015 8:02:25 AM]
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