Which of the following is true of a bill of exchange?
A. It is not considered a negotiable instrument.
B. It is also referred to as a draft.
C. It is a two-party instrument.
D. It contains a conditional order from the drawer that directs the drawee to pay a definite sum of money to a payee on demand or at a specified future date.
B
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a. Dynamic RAM b. Static RAM c. Dynamic ROM d. Static ROM
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On October 21, Martin, Inc. provided a service to a customer and received $1,400 cash. The journal entry to record this transaction would include:
A. A debit to Cash and a credit to Service Revenue B. A debit to Accounts Receivable and a credit to Service Revenue C. A debit to Service Revenue and a credit to Cash D. A debit to Cash and a credit to Accounts Receivable