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    Question

    PQR Company received an invoice for Rs 1,500 for

    services rendered. The company will pay the amount in 30 days. How will this transaction be recorded initially?
    A Debit accounts payable and credit cash Correct Answer Incorrect Answer
    B Debit accounts receivable and credit cash Correct Answer Incorrect Answer
    C Debit cash and credit accounts payable Correct Answer Incorrect Answer
    D Debit cash and credit accounts receivable Correct Answer Incorrect Answer

    Solution

    Debit cash and credit accounts payable

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