For each of the transactions below, indicate the account to be debited or credited by placing the letterrepresenting the account in the appropriate column. Accounts receivableа. Ассоunts Payable8. Сарitalj. suppliesCashe. Rent Expenseh. NotesPayableDrawingf. Salaries Expensei. EquipmentTRANSACTIONSDEBITCEDIT1.Investment of the Owner2. Received cash for services rendered3.Purchased equipment4. Bought supplies on credit.5. Paid rent6.Paid on account.7. Withdrew cash from the business.8.Paid salaries9.Issued a note.

Investment of the owner - g Received cash for service rendered - Accounts receivable Purchased…

Answered: For each of the transactions below,…

Business

Accounting

For each of the transactions below, indicate the account to be debited or credited by

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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Question

For each of the transactions below, indicate the account to be debited or credited by placing the letter representing the account in the appropriate column.

Accounts receivable
а. Ассоunts Payable
8. Сарital
j. supplies
Cash
e. Rent Expense
h. Notes
Payable
Drawing
f. Salaries Expense
i. Equipment
TRANSACTIONS
DEBIT
CEDIT
1.
Investment of the Owner
2. Received cash for services rendered
3.
Purchased equipment
4. Bought supplies on credit.
5. Paid rent
6.
Paid on account.
7. Withdrew cash from the business.
8.
Paid salaries
9.
Issued a note.

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