Questions: Multiple choice: A credited account and its associated amount The journal entry description The current entry description A debited account and its associated amount

Multiple choice: A credited account and its associated amount The journal entry description The current entry description A debited account and its associated amount
Transcript text: Multiple choice: A credited account and its associated amount The journal entry description The current entry description A debited account and its associated amount
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Solution

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The answer is D: A debited account and its associated amount.

Explanation for each option:

A. A credited account and its associated amount:

  • This option refers to the account that is credited in a journal entry, along with the amount credited. While this is an important part of a journal entry, it is not the correct answer based on the context provided.

B. The journal entry description:

  • This option refers to the narrative or explanation that accompanies a journal entry, describing the transaction. Although this is also a crucial part of a journal entry, it is not the correct answer in this context.

C. The current entry description:

  • This option is somewhat vague but seems to refer to the description of the current journal entry being made. Like option B, it is important but not the correct answer here.

D. A debited account and its associated amount:

  • This option refers to the account that is debited in a journal entry, along with the amount debited. This is a fundamental part of a journal entry, and based on the context provided, it is the correct answer.
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