Charge accounts could be accessed by cash.
举一反三
- Which of the following accounts normally contain a credit balance? A: land B: Accounts Receivable. C: Accounts Payable. D: Cash
- An attorney performs services of $1,100 for a client and receives $400 cash, with the remainder on account. The journal entry for this transaction would A: debit Cash, debit Service Revenue, credit Accounts Receivable. B: debit Cash, debit Accounts Receivable, credit Service Revenue. C: debit Cash, credit Service Revenue. D: debit Cash, credit Accounts Receivable, credit Service Revenue.
- The working capitalcycle moves from cash to inventory to receivables and back to cash.
- The statement of cash flows should be reviewed for several time periods in order to determine the major sources of cash and the major uses of cash.
- The Diners Club offered charge accounts to individuals for many companies.