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Use the Information Below to Answer the Following Questions:
a \quad

Question 12

Multiple Choice

Use the information below to answer the following questions:
A consultant performs accounting services for a client on 30 June 2012 and bills the client $350, to be paid within 60 days. Payment is duly made on 29 August 2012. Accrual accounting is used by both parties.
-What is the journal entry made by the client on 29 August 2012?


A) DR Accounting expenses \quad CR Cash
B) DR Cash \quad\quad\quad\quad\quad\quad CR Accounting expenses
C) DR Accounting expenses \quad CR Accounts payable
D) DR Accounts payable \quad \quad CR Cash

Correct Answer:

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