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On April 30, 2015, Zono Electronics, Inc. made a payment of $3,500 to Imperial Distributors, a supplier. Choose the statement that best describes the recording of this financial transaction by Imperial
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On April 30, 2015, Zono Electronics, Inc. made a payment of $3,500 to Imperial Distributors, a supplier. Choose the statement that best describes the recording of this financial transaction by Imperial Distributors.

User Barracel
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1 Answer

1 vote

Answer:

A) Debit cash, credit accounts receivable

Step-by-step explanation:

As the statement said, Zoono electronics made a payment which means they are debiting cash amount of $3,500 to imperial distributor who is a supplier. So the best statement that best describes the recording of this financial transaction by imperial distributor is their account receivable has been credited and cash is debited. All the other options are wrong except this.

User Irene
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