Reference no: EM132625097

Question 1. How would you post the following journal entry to ledger?

Rent expense $200 Dr.

Cash $200 Cr.

A. Cash account would be debited by $200 and rent expense account would be credited by $200

B. Rent expense account would be debited by $200 and account payable account would be credited by $200.

C. Cash account would be debited by $200 and loss account would be credited by $200

D. Rent expense account would be debited by $200 and cash account would be credited by $200.

Question 2. The receipt of cash from customers to whom the goods have already been sold on credit would be recorded by a:

A. Debit to cash account & credit to accounts payable account

B. Debit to cash account & credit to accounts receivable account

C. Debit to accounts payable account & credit to cash account

D. Debit to accounts receivable account and credit to cash account