The entry to record revenue earned on account includes a debit to accounts receivable and a credit to revenue.
Answer the following statement true (T) or false (F)
True
This is true. Recognizing revenue earned on account increases accounts receivable with a debit and increases revenue with a credit.
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All of the following types of dividends will result in an increase in liabilities as a result of the declaration of the dividend except a
A) cash dividend. B) property dividend. C) scrip dividend. D) stock dividend.
Dazzle, Inc. produces beads for jewelry making use. The following information summarizes production operations for June. The journal entry to record June production activities for overhead allocation is: Direct materials used$87,000 Direct labor used 160,000 Predetermined overhead rate (based on direct labor) 155%Goods transferred to finished goods 432,000 Cost of goods sold 444,000 Credit sales 810,000
A. Debit Work in Process Inventory $160,000; credit Cash $160,000. B. Debit Work in Process Inventory $248,000; credit Factory Overhead $248,000. C. Debit Work in Process Inventory $160,000; credit Factory Overhead $160,000. D. Debit Factory Overhead $248,000; credit Cash $248,000. E. Debit Work in Process Inventory $160,000; credit Factory Wages $160,000.
Which of the following is not a decision tool based on working capital?
A) cash ratio B) acid-test ratio C) current ratio D) dividend payout ratio
Cash advances generally require an upfront fee of 4 to 6 percent of the amount advanced
Indicate whether this statement is true or false.