The process of transferring amounts from the book of original entry into the ledger is referred to as:
A) journalizing.
B) posting.
C) analyzing.
D) classifying.
B
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When Carson Real Estate Company sells equipment for a loss, the Loss on Sale of Asset is treated as accumulated depreciation
a. True b. False Indicate whether the statement is true or false
A research proposal must be written in manuscript format
Indicate whether the statement is true or false
Which of the following is not true about chlorofluorocarbons (CFCs)?
a. They deplete the ozone layer. b. By 1985, scientists believed that the release of CFCs into the atmosphere had caused a hole in the ozone layer in the stratosphere. c. There are no synthetic substitutes for CFCs. d. CFCs are extremely potent greenhouse gases.
On September 12, Vander Company sold merchandise in the amount of $5,800 to Jepson Company, with credit terms of 2/10, n/30. The cost of the items sold is $4,000. Jepson uses the periodic inventory system and the gross method of accounting for purchases. The journal entry that Jepson will make on September 12 is:
A.
| Merchandise inventory | 5,800 | |
| Accounts payable | 5,800 |
B.
| Accounts payable | 4,000 | |
| Merchandise inventory | 4,000 |
C.
| Purchases | 5,800 | |
| Accounts receivable | 5,800 |
D.
| Purchases | 5,800 | |
| Accounts payable | 5,800 |
E.
| Purchases | 4,000 | |
| Accounts receivable | 4,000 |