Info
Warning
Danger
/ Homework Answers / Accounting / 21) Which of the following transactions recorded in the "Receive

Question

21) Which of the following transactions is recorded in the "Receive Payments" function of QuickBooks?

A) electricity bill payments

B) merchandise inventory sold on account to a customer

C) products sold for cash to a customer

D) coupon payments to the bondholders

22) Which of the following transactions is recorded in the "Enter Bills" function of QuickBooks?

A) a firm paying an electricity bill

B) a firm receiving a utility bill

C) a firm writing down the value of an impaired asset

D) a firm making coupon payments to the bondholders

23) Which of the following transactions is recorded in the "Invoices" function of QuickBooks?

A) a firm paying $2,500 electricity bill

B) a firm writing down the value of an impaired asset

C) a firm making a sale on account to a customer

D) a firm making accounting adjustments to depreciation expense

24) BM Corporation makes a sale for cash to Roger Downing. In which of the following functions of QuickBooks will this transaction be recorded?

A) Pay Bills

B) Enter Bills

C) Invoices

D) Receive Payments

25) BM Corporation makes a sale on account to Roger Downing. In which of the following functions of QuickBooks will this transaction be recorded?

A) Pay Bills

B) Enter Bills

C) Invoices

D) Receive Payments

26) Mercury Corporation receives a landscaping bill on January 15 and is required to pay it before February 15. In which of the following functions of QuickBooks will this transaction be recorded on the date of receipt of the bill?

A) Pay Bills

B) Enter Bills

C) Invoices

D) Receive Payments

27) Mercury Corporation receives a landscaping bill on January 15 and is required to pay it before February 15. In which of the following functions of QuickBooks will this transaction be recorded on the date of payment of the bill?

A) Receive Payments

B) Enter Bills

C) Invoices

D) Pay Bills

Solution
5 (1 Ratings )

Solved
Accounting 4 Months Ago 8 Views
This Question has Been Answered!
Premium Content -

Unlimited Access

Explore More than 2 Million+
  • Textbook Solutions
  • Flashcards
  • Homework Answers
  • Documents
Signup for Better Grades!

Ask an Expert

Our Experts can answer your tough homework and study questions
124306 Accounting Questions Answered!
Post a Question

Welcome Back!

ScholarOn has more then 20 Million answers, flashcards & more being added everyday!

or
Forgot?
Login
Don't have an account? Signup

Join ScholarOn

ScholarOn has more then 20 Million answers, flashcards & more being added everyday!

or
Signup
By registering, I agree to the Terms and Privacy Policies
Already have an account? Log in

Verify Your Email

Check your inbox & click on the link to activate your account.

Resend Email
Verification Mail Send Successfully. Please Check Your Email.

Forgot Password

Please enter your registered email to recieve the password reset link.

Send reset link
Already have an account? Log in
Did you know?

ScholarOn has more than 2 Million+ answers, textbook solutions & flashcards. Explore Now!

Let us boost your grade together!