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

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. 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.	Paid dividends to owners.
11.	Customers paid for services provided last month.
12.	Received utility invoice; the company will pay next week.
13.	Recorded salaries for the month, will pay next week.

Expert Solution

Answer as following

		Account Debited	Account Credited
ex	*Purchase Office Supplies in exchange for cash*	N	C
10	Paid dividends to owners.	E	C
11	Customers paid for services provided last month.	C	B
12	Received utility invoice; the company will pay next week.	O	A
13	Recorded salaries for the month, will pay next week.	K	L

ekkarill92 answered 2 years ago

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