Accounting Cpt. 3 MC Review

On each journal page, the date is written

• for each entry.

• only for the first entry.

• on the first line of each column.

• none of these.

The entry to record payment of cash to the owner as a withdrawal of equity is

• debit Cash, credit Drawing.

• debit Drawing, credit Cash.

• debit Cash, credit Accounts Payable.

• none of these.

When cash is paid for supplies,

• Supplies is increased.

• Supplies is credited.

• the balance of Supplies is decreased.

• none of these.

A single line ruled across the journal's amount columns indicates

• the date is the last day of the month.

• the totals have been verified as correct.

• that columns are to be totaled.

• none of these.

If an error is recorded in a journal entry,

• cancel the error by drawing a neat line through the error.

• correct the entry by writing the correct item above the canceled error.

• do not erase the incorrect item.

• all of these.

When cash is received on account, the amount is recorded in the

• Sales Credit column and Cash Debit column.

• General Debit column and Cash Credit column.

• Accounts Receivable Credit column and Cash Debit column.

• General Debit column and Accounts Payable Debit column.

When cash is received from sales, the amount is recorded in the

• Sales Credit column and Cash Debit column.

• Sales Debit column and Cash Credit column.

• General Credit column and Cash Debit column.

• General Debit column and Cash Credit column.

When services are sold on account, the amount is recorded in the

• Accounts Receivable Debit column and Cash Credit column.

• General Credit column and Cash Debit column.

• Accounts Receivable Debit column and Sales Credit column.

• General Debit column and Accounts Payable Debit column.

When cash is paid for rent, the amount is recorded in the

• Cash Credit column and General Debit column.

• Sales Credit column and General Debit column.

• General Credit column and Cash Debit column.

• General Credit column and Sales Credit column.

When cash is paid on account, the amount is recorded in the

• Accounts Payable Debit column and Cash Credit column.

• Sales Credit column and Cash Debit column.

• General Debit column and Cash Credit column.

• Cash Debit column and General Credit column.