The journal entry to record general selling and administrative costs is debit BlankThe journal entry to record general selling and administrative costs is debit Blank______. Multiple choice question. Manufacturing Overhead and credit Cash or a payable a payable account and credit Manufacturin...
The journal entry to record general selling and administrative costs is debit
Blank______. Multiple choice question. Manufacturing Overhead and credit
Cash or a payable a payable account and credit Manufacturing Overhead a
payable account and credit an expense account an expense account and credit
Cash or a payable
Answer & Explanation
The correct answer is: an expense account and credit Cash or a payable.
Explanation:
1. General Selling and Administrative Costs: These are expenses incurred
in the overall operation of a business that are not directly tied to the
production of goods or services. They include costs such as salaries for
administrative staff, office supplies, utilities, etc.
2. Journal Entry Components:
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller newage. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $7.99. You're not tied to anything after your purchase.