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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
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