
PREPARE A JOURNAL ENTRY
Authored by Ivy Azur
Business, Fun, Mathematics
11th Grade - University
Used 18+ times

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5 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Transaction 1A: Total cash sales of barbecue amounted to P 800.
Cash increased, Sales decreased
Cash decreased, Sales decreased
Cash increased, Sales increased
Cash decreased, Sales increased
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Transaction 1.B: The total cost of the barbecue sold is P 280.
Cost of sales is increased; inventory is
increased
Cost of sales is decreased; inventory is
decreased
Cost of sales is decreased; inventory is
increased
Cost of sales is increased; inventory is
decreased
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Cast is increased; Sales is increased. Therefore, _______
Cash is debited, Sales credited
Cash is credited, Sales debited
Cash credited, Sales credited
Cash debited, Sales debited
Answer explanation
Asset is increased through debit.
Income is increased through credit
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Cost of sales is increased; inventory is
decreased. Therefore, _________.
Cost of Sales crediited, Inventory Credited
Cost of Sales debited, Inventory debited
Cost of Sales debited, Inventory Credited
Cost of Sales credited, Inventory debited
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Transaction 2: On March 20, 2021,the business paid P5,000 for an advertisement that was aired on radio.
Cash is debited, Advertisement expense credited.
Cash is credited, Advertisement expense debited.
Cash is debited, Advertisement expense debited.
Cash is credited, Advertisement expense credited.
Answer explanation
Cash decreased, it is an Asset Account and assets decreased in credit.
Advertisement expense increased, it is an Expense Account and Expenses increased in debit.
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