In: Accounting
1. Jack receives 300 dollars cash advance from performing a legal service.
2. Jack gets a refund of 30 dollars worth of office supplies that he previously purchased. This is recieved in credit and not a cash refund)
3. Jack receives 1000 dollars from customers previously billed on Jan 6th.
For each one name debit/credit and which category (accounts payable, cash, office supplies, etc...)
Which of the following will have a normal credit balance?
a. prepaid rent.
b. rent expense
c. dividends
d. accumulated depreciation
4. Jack paid 6000 of the debit incurred from Jan 3rd.
1.
Cash - Debit
Unearned service revenue - Credit
2.
Accounts payable - Debit
Office supplies - Credit
3.
Cash - Debit
Accounts receivable - Credit
4.
Accounts payable - Debit
Cash - Credit
Accumulated depreciation will have a normal credit balance