A promise by a customer to pay cash in the future is a(n) :
A) account receivable.
B) liability.
C) prepaid asset.
D) note payable.
Correct Answer:
Verified
Q46: A business paid $8,500 to a creditor.
Q47: Owner's equity is often referred to as
Q48: If owner's equity is $135,000 and total
Q49: Owner's equity and total assets were $32,000
Q50: The accounting equation can be stated as
Q52: The purchase of supplies on account would
Q53: Total assets and total liabilities were $31,000
Q54: Increases in owner's equity result from revenues
Q55: The recording of an owner withdrawal has
Q56: Owner's equity is an:
A)insider claim to the
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