If the receivable for a student is $9,000 and the student pays only $1,000 as the result of receiving a work study appointment from the school,what would be the appropriate debits?
A) Debit Cash and Debit Discount on Revenue.
B) Debit Cash and Debit Expense.
C) Debit Cash and Debit accounts receivable.
D) Debit Cash.
Correct Answer:
Verified
Q88: When summer school classes at a university
Q103: Identify three types of restrictions placed on
Q104: Sam Smith died,leaving a will that provided
Q105: If the receivable for a student is
Q106: Match the Type of Entity with the
Q108: What are the reporting options for the
Q109: What is the basis of accounting for
Q110: Identify the primary financial reporting body for
Q111: The NACUBO Financial Accounting and Reporting Manual
Q112: Student scholarships for which no service was
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