Question

The bookkeeper for Dr. Mark Scholz, DVM, informed the veterinarian that the business' revenue for the day was $18,920. Which statement below best describes how the bookkeeper would record this?

a. $18.920 would be recorded on the credit side of the revenue account.
b. $18,920 would be recorded on the debit side of the purchases account.
c. $18,920 would be recorded on the credit side of the cash account.
d. $18.920 would be recorded on the debit side of the owner's equity account.

Answer 1

Answer:

A)$18,920 would be recorded on the credit side of the revenue account.

Explanation:

Based on the information given the statement

what best describes how the bookkeeper would record the business' revenue amount is that the amount of $18,920 which is the revenue Amount incurred will be recorded on the CREDIT SIDE of the revenue account reason been that we were told that bookkeeper told the veterinarian that the business' revenue amount r ecognized for the day was the amount of $18,920.