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Market Certified Associate 2.0 MCA Test with COMPLETE SOLUTIONS

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Market Certified Associate 2.0 MCA Test with COMPLETE SOLUTIONSA check deposited to the bank for payment of an agent's bill (from the market center) is a _____ to "Accounts Receivable- Agents" - ✔... ✔Credit (CR) Recording depreciation affects the accounts below. Please select the appropriate debit(DR) and credit(CR) - ✔✔(DR) Depreciation Expense (CR) Accumulated Depreciation Accumulated Interest - ✔✔goes up annually until you sell it When the proceeds from a loan are received, the entry to "notes payable" is a __________. - ✔✔Credit (CR) A check deposited to the bank for payment of an agent's bill (from the market center) is a _____ to "cash- operating account" - ✔✔Debit (DR) Items were returned to the vendor. The vendor them issued a credit memo for $55 prior to the invoice being paid. The entry should be recorded as __________ - ✔✔(DR) Accounts Payable 55 (CR) Supplies 55 Which of the following would be a Debit (DR) on the balance sheet? - ✔✔Prepaid Expense - office lease Which of the following would be a (CR) on the balance sheet? - ✔✔Common Stock When you receive the payment from the agent for the $40 copier invoice the entry should be recorded as - ✔✔DR Cash- operating CR Accounts Receivable [Show More]

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