121. Which of the following entries records the collection of cash from cash customers?
A. Fees Earned, debit; Cash, credit
B. Fees Earned, debit; Accounts Receivable, credit
C. Cash, debit; Fees Earned, credit
D. Accounts Receivable, debit; Fees Earned, credit
122. Which of the following entries records the receipt of cash for two months' rent? The cash was received in advance of providing the service.
A. Prepaid Rent, debit; Rent Revenue, credit.
B. Cash, debit; Unearned Rent, credit.
C. Cash, debit; Prepaid Rent, credit.
D. Cash, debit; Rent Expense credit.
123. A patient has a physical examination and asks the bookkeeper to mail the bill. The bookkeeper should
A. make no entry until the cash is received
B. Cash, debit; Accounts Receivable, credit
C. Cash, debit; Fees Earned, credit
D. Accounts Receivable, debit; Fees Earned, credit
124. Proof that the dollar amount of the debits equals the dollar amount of the credits in the ledger means
A. all of the information from the journal was correctly transferred to the ledger
B. all accounts have their correct balances in the ledger
C. only the journal is accurate; the ledger may be incorrect
D. only that the debit dollar amounts equal the credit dollar amounts
125. Which of the following is true about a T-Account?
A. Left hand side of the T-Account is called a debit.
B. Left hand side of the T-Accounts is called a credit
C. Right hand side of the T-Account is called a debit
D. None are true.
126. Which of the following abbreviations are correct?
A. Debit “Dr”, Credit “Cd”
B. Debit “Db”, Credit “Cr”
C. Debit “Db”, Credit “Cd”
D. Debit “Dr”, Credit “Cr”
127. When amounts of a transaction are entered on the left side of an account, they are said to be
A. credited
B. summarized
C. totaled
D. debited
128. When amounts of a transactions are entered in an account on the right hand side, they are said to be
A. credited
B. debited
C. added
D. subtracted
129. Which side of the account increases a cash account?
A. credit
B. neither a debit or a credit
C. debit
D. either a debit or a credit
130. A cash payment is recorded on the cash account as a
A. neither a debit or a credit
B. credit
C. debit
D. either a debit or a credit