12. An account to be debited should be firstly determined in recording transaction in the general journal. Which of the following should come first? OA. Cash, when the balance decreases B. Accounts payable, when the balance increases C. Accounts receivable, when the balance decreases D. Rent expense, when the balance increases

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter7: Accounting Information Systems
Section: Chapter Questions
Problem 19MC: The sum of all the accounts in the accounts receivable subsidiary ledger should ________. A. equal...
icon
Related questions
Question
12. An account to be debited should
be firstly determined in recording
transaction in the general journal.
Which of the following should come
first?*
O A. Cash, when the balance decreases
B. Accounts payable, when the balance
increases
C. Accounts receivable, when the balance
decreases
D. Rent expense, when the balance
increases
Transcribed Image Text:12. An account to be debited should be firstly determined in recording transaction in the general journal. Which of the following should come first?* O A. Cash, when the balance decreases B. Accounts payable, when the balance increases C. Accounts receivable, when the balance decreases D. Rent expense, when the balance increases
Expert Solution
steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Double entry bookkeeping system
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Principles of Accounting Volume 1
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
Financial Accounting: The Impact on Decision Make…
Financial Accounting: The Impact on Decision Make…
Accounting
ISBN:
9781305654174
Author:
Gary A. Porter, Curtis L. Norton
Publisher:
Cengage Learning
Quickbooks Online Accounting
Quickbooks Online Accounting
Accounting
ISBN:
9780357391693
Author:
Owen
Publisher:
Cengage
College Accounting (Book Only): A Career Approach
College Accounting (Book Only): A Career Approach
Accounting
ISBN:
9781337280570
Author:
Scott, Cathy J.
Publisher:
South-Western College Pub
Auditing: A Risk Based-Approach (MindTap Course L…
Auditing: A Risk Based-Approach (MindTap Course L…
Accounting
ISBN:
9781337619455
Author:
Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:
Cengage Learning