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Below is a partial list of account balances for Cerner Company:

Cash $5,000
Prepaid insurance 500
Accounts receivable 2,500
Accounts payable 2,000
Notes payable 3,000
Common stock 1,000
Dividends 500
Revenues 15,000
Expenses 12,500

What did Cerner Company show as total credits?

a) $21,500

b) $21,000

c) $20,500

d) $22,000

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M941927

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