The receipt of cash from customers in payment of their accounts would be recorded by a
A. debit to cash and a credit to accounts payable
B. debit to cash and a credit to accounts receivable
C. debit to cash and a credit to fees earned
D. debit to cash and a credit to fees expense
Ans: B. debit to cash and a credit to accounts receivable
Business
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A person who has complete control of a parcel of real estate is said to own a
A) leasehold estate. B) fee simple estate. C) life estate. D) defeasible fee estate.
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According to the Contract to Buy and Sell, if the parties have a dispute, the loser pays for the mediation fees.
a. true b. false
Business