Debit card payments in a sales invoice with regular terms of net 30 will -
A) debit the bank account instead of accounts receivable for the full invoice amount
B) credit the bank account instead of accounts receivable for the full invoice amount
C) reduce the bank deposit by the amount of the card transaction fees
D) withdraw the full invoice amount from the customer's bank account in 30 days when the net amount is due
Correct Answer:
Verified
Q4: Which one of the following general statements
Q5: To convert a purchase quote to a
Q6: Customer deposits (prepayments) are recorded -
A) as
Q7: The No. field in the receipts journal
Q8: When customers settle their accounts in full
Q10: To convert a sales quote to a
Q11: When you pay a purchase invoice after
Q12: When correcting a purchase order error before
Q13: If you accidentally posted an invoice to
Q14: To remove a recurring transaction -
A) recall
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents