Assets created by selling goods and services on credit are:


Assets created by selling goods and services on credit are: A) Liabilities. B) Accounts payable. C) Equity. D) Accounts recei

Answer

Ans 32 (D) Accounts Receivable
Ans 33 (D) Debit another asset account for $1500
Reason: Because debitting an asset of $1500 would make the debit account $5000 and the credit would stay $2000.
Ans 34 (D) Expense recognition ( Matching Principal)
Ans 35 (A) The types and amounts of assets liabilities, and equity of a business as of a specific date.
Ans 36 TRUE
Ans 37 TRUE

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