Question

In: Accounting

Indicate which of the following accounts should be debited and which should be credited. An example has...

Indicate which of the following accounts should be debited and which should be credited. An example has been provided (ex). Purchase Office Supplies in exchange for cash Debit : N (Supplies) Credit: C (Cash)…see below. Only include the letter of the account not the account name.

Accounts payable	E. Dividends	I. Rent expense	M. Service revenue
Accounts receivable	F. Office Equipment	J. Retained earnings	N. Supplies
Cash	G. Notes payable	K. Salaries expense	O. Utilities expense
Common stock	H. Prepaid rent	L. Salaries payable

		Account Debited	Account Credited
ex	*Purchase Office Supplies in exchange for cash*	N	C
10.	Purchased office equipment on account
11.	Provided services on account
12.	Received utility bill and paid it the same day
13.	Used rent that had been paid for in advance

Expert Solution

Transaction Account Debited Account Credited

10 F A

11 B M

12 O C

13 I H

Supporting Work

Journal Entries

Transaction 10

Office Equipment A/C...Dr

To Accounts Payables

Transaction 11

Accounts Receivables A/C..Dr

To Service Revenue

Transaction 12

Utilities Expense A/C...Dr

To Cash

Transaction 13

Rent Expense A/C..Dr

To Prepaid Rent

ekkarill92 answered 3 years ago

Indicate which of the following accounts should be debited and which should be credited.

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