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Akikos accountant advised her to use the accrual basis of accounting. Considering this, how should...

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Accounting

Akikos accountant advised her to use the accrual basis of accounting. Considering this, how should she enter data into QuickBooks? Answer: A. She should be sure to enter all customers and vendors in the appropriate lists first since she'll be using Accounts Receivable and Accounts Payable. B. She doesn't have to enter data differently for accrual basis versus cash basis. C. She should never use the Write Checks window because she'll be using Accounts Payable. D. She should make sure to enter all invoices before she enters any bills each day.

Charlotte paid $1,200 for a year of insurance up front as part of a discount promotion. She would otherwise pay $125 per month. Which image shows the proper way to account for the payment?

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