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ACC 101 STUDY GUIDE Exam questions with correct answers 2026/2027 Edition Graded A+ Q: Customer pays cash for services performed. -A: Debit Cash, Credit Service Revenue Q: Customer receives services now and pays later. -A: Debit Accounts Receivable,

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ACC 101 STUDY GUIDE Exam questions with correct answers 2026/2027 Edition Graded A+ Q: Customer pays cash for services performed. -A: Debit Cash, Credit Service Revenue Q: Customer receives services now and pays later. -A: Debit Accounts Receivable, Credit Service Revenue Q: Customer pays before work is completed. -

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ACC 1O1/102/202
ACC/FIN/110.
Accounting
CPA 2026/2027 BUSINESS

, ACC 101 STUDY GUIDE Exam
questions with correct answers
2026/2027 Edition Graded A+
Q: Customer pays cash for services performed. - ✅✅A: Debit Cash,
Credit Service Revenue


Q: Customer receives services now and pays later. - ✅✅A: Debit
Accounts Receivable, Credit Service Revenue


Q: Customer pays before work is completed. - ✅✅A: Debit Cash,
Credit Unearned Revenue


Q: Customer pays an outstanding account balance. - ✅✅A: Debit
Cash, Credit Accounts Receivable


Q: Buy supplies on account. - ✅✅A: Debit Supplies, Credit Accounts
Payable


Q: Pay Accounts Payable. - ✅✅A: Debit Accounts Payable, Credit
Cash

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