1Z0-961 · Question #5
You need to enter a last-minute invoice during the close process. What is the quickest way to enter and post the invoice to general ledger?
The correct answer is D. Void the payment, which debits cash and credits the liability, and then cancel the. You entered an invoice of 12,000 and paid it for Office Supplies. The payment was never received by the supplier, and you decide to return the entire order. What should you do? memo, which debits the liability and credits the expense. invoice, which debits the liability and…
Question
You need to enter a last-minute invoice during the close process. What is the quickest way to enter and post the invoice to general ledger?
Options
- AVoid the payment, which debits cash and credits the liability, and then issue a credit
- BIssue a credit memo, which will debit the liability and credit the expense.
- CCancel the invoice, which debits the liability and credits the expense.
- DVoid the payment, which debits cash and credits the liability, and then cancel the
How the community answered
(57 responses)- A4% (2)
- B7% (4)
- C12% (7)
- D77% (44)
Explanation
You entered an invoice of 12,000 and paid it for Office Supplies. The payment was never received by the supplier, and you decide to return the entire order. What should you do? memo, which debits the liability and credits the expense. invoice, which debits the liability and credits the expense.
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