Weegy: An increase in an expense account must be A. debited.
User: In the first month of operations, the total of the debit entries to the cash account amounted to $1,400 and the total of the credit entries to the cash account amounted to $600. The cash account has a
A. $600 credit balance
B. $1,400 debit balance
C. $800 debit balance
D. $800 credit balance
Weegy: The cash account has a $800 debit balance , answer is letter C. [smile]
User: Smith is a customer of ABC Corporation. Smith typically purchases merchandise from ABC on account. Which ledger would ABC use to keep track of the details of Smith’s account?
A. Accounts receivable subsidiary ledger
B. Accounts receivable control ledger
C. General ledger
D. Accounts payable subsidiary ledger
Weegy: D. Accounts payable subsidary ledger
User: Under the cash basis of accounting,
A. revenue is recognized when services are performed
B. expenses are matched with the revenue that is produced
C. cash must be received before revenue is recognized
D. a promise to pay is sufficient to recognize revenue
Weegy: Under the cash basis of accounting, expenses are matched with the revenue that is produced.
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