All of the following are nonsales type of deposits except:
A)Money received from a loan
B)Payment from a customer
C)Cash from investors
D)Interest earned

Question

Quizplus · Accepted Answer

Option A, C, and D are all nonsales type of deposits. Money received from a loan is a liability for the borrower and an asset for the lender. Cash from investors is usually classified as equity on the balance sheet, and interest earned is revenue. However, payment from a customer is a sales-related deposit, indicating that the customer has made a payment for goods or services received.

All of the Following Are Nonsales Type of Deposits Except