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103) Willow Rentals purchased office supplies on credit. The general journal entry made by Willow Rentals will include a: A) Debit to Accounts Payable. B) Debit to Accounts Receivable. C) Credit to Cash. D) Credit to Accounts Payable. E) Credit to Willow, Capital. Answer: D Difficulty: 2 Medium Topic: Analyzing Transactions Learning Objective: 02-A1 Analyze the impact of transactions on accounts and financial statements. Bloom's: Apply AACSB/Accessibility: Analytical Thinking / Keyboard Navigation AICPA: BB Industry; FN Measurement 104) An asset created by prepayment of an insurance premium is: A) Recorded as a debit to Unearned Revenue. B) Recorded as a debit to Prepaid Insurance. C) Recorded as a credit to Unearned Revenue. D) Recorded as a credit to Prepaid Insurance. E) Not recorded in the accounting records until the insurance period expires. Answer: B Difficulty: 2 Medium Topic: Analyzing Transactions Learning Objective: 02-A1 Analyze the impact of transactions on accounts and financial statements. Bloom's: Understand AACSB/Accessibility: Analytical Thinking / Keyboard Navigation AICPA: BB Industry; FN Measurement

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Test Bank for Fundamental Accounting Principles 24th Edition Wild  

Fundamental Accounting Principles 24th Edition Wild Test Bank 2019 (9781259916960) (1259916960). Instant test bank download. Download from h...

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