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CLICK HERE TO ACCESS FULL VERSION Chapter 2 - Analyzing Transactions 128. Which of the following entries records the receipt of cash for two months' rent? The cash was received in advance of providing the service. a. Prepaid Rent, debit; Rent Revenue, credit b. Cash, debit; Unearned Rent, credit c. Cash, debit; Prepaid Rent, credit d. Cash, debit; Rent Expense credit ANSWER: b DIFFICULTY: Challenging Bloom's: Understanding LEARNING OBJECTIVES: ACCT.WARD.18.02-02 - 02-02 ACCT.WARD.18.02-03 - 02-03 ACCREDITING STANDARDS: ACCT.ACBSP.APC.06 - Recording Transactions ACCT.AICPA.FN.03 - Measurement BUSPROG: Analytic 129. A client has a massage and asks the company bookkeeper to mail her the bill. The bookkeeper should make which entry to record the invoice? a. no entry until the cash is received b. Fees Earned, debit; Accounts Receivable, credit c. Cash, debit; Fees Earned, credit d. Accounts Receivable, debit; Fees Earned, credit ANSWER: d DIFFICULTY: Challenging Bloom's: Understanding LEARNING OBJECTIVES: ACCT.WARD.18.02-02 - 02-02 ACCT.WARD.18.02-03 - 02-03 ACCREDITING STANDARDS: ACCT.ACBSP.APC.06 - Recording Transactions ACCT.AICPA.FN.03 - Measurement BUSPROG: Analytic 130. Which of the following abbreviations is correct? a. Debit, “Dr”; Credit, “Cd” b. Debit, “Db”; Credit, “Cr” c. Debit, “Db”; Credit, “Cd” d. Debit, “Dr”; Credit, “Cr” ANSWER: d DIFFICULTY: Moderate Bloom's: Remembering LEARNING OBJECTIVES: ACCT.WARD.18.02-02 - 02-02 ACCREDITING STANDARDS: ACCT.ACBSP.APC.02 - GAAP ACCT.ACBSP.APC.06 - Recording Transactions ACCT.AICPA.FN.03 - Measurement BUSPROG: Analytic

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Test Bank for Financial Accounting 15th Edition Warren  

Financial Accounting 15th Edition Warren Test Bank 2018 (9781337272124) (1337272124). Instant test bank download. Download from https://acco...

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