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Home Q & A Board Other Fields Homework Help Business Accounting
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goji.go goji.go
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9 years ago
Macky McClung uses accrual accounting to keep the records of her toy store. She paid $15,000 on January 1 for rent for the three months January-March. To correctly report her expenses for the month of January, what must her accounting entry accomplish?
      a.   increase expenses by $5,000 and decrease assets by $10,000
      b.   increase expenses by $5,000 and decrease assets by $5,000
      c.   increase expenses by $10,000 and decrease assets by $5,000
      d.   decrease expenses by $5,000 and increase assets by $5,000
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Diesel
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Answer accepted by topic starter
f_zah1f_zah1
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9 years ago
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goji.go Author
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#2
9 years ago
Thanks so much f_zah1.

You were correct Smiling Face with Open Mouth
Diesel
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#3
9 years ago
You're very welcome!
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