1. For the following events, write the name of the account to be debited and credited. Event Account Debited Account Credited 1. Purchased supplies for cash. 2. Paid in advance for two-year lease on office space. 3. Provided services on account. 4. Recognized expense for prepaid rent that had been used up by the end of the accounting period. 5. Recognized accrued interest revenue 5. Recorded accrued salaries at the end of he accounting period.

1. For the following events, write the name of the account to be debited and credited. Event Account Debited Account Credited 1. Purchased supplies for cash. 2. Paid in advance for two-year lease on office space. 3. Provided services on account. 4. Recognized expense for prepaid rent that had been used up by the end of the accounting period. 5. Recognized accrued interest revenue 5. Recorded accrued salaries at the end of he accounting period.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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