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| CH ital is debited. ne from Services is credited. Kennedy Company received and paid the rent for the month. 17. Which of the following is correct, assuming the following transaction a. Rent Expense is debited. b. Cash is debited. C. Rent Expense is credited. d. Accounts Payable is debited. 10. Which of the following is correct, assuming the following transaction Nixon Company sold services on account. Cash is credited. a. b. Accounts Receivable is credited. Income from Services is credited. C. d. Cash is debited.

| CH ital is debited. ne from Services is credited. Kennedy Company received and paid the rent for the month. 17. Which of the following is correct, assuming the following transaction a. Rent Expense is debited. b. Cash is debited. C. Rent Expense is credited. d. Accounts Payable is debited. 10. Which of the following is correct, assuming the following transaction Nixon Company sold services on account. Cash is credited. a. b. Accounts Receivable is credited. Income from Services is credited. C. d. Cash is debited.

FINANCIAL ACCOUNTING
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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17. Which of the following is correct, assuming the following transaction Kennedy Company received and paid the rent for the month. ital is debited. ne from Services is credited. | CHAP a. Rent Expense is debited. b. Cash is debited. Name Course C. Rent Expense is credited. d. Accounts Payable is debited. Instri 16. Which of the following is correct, assuming the following transaction Nixon Company sold services on account. a. Cash is credited. b. Accounts Receivable is credited. C. Income from Services is credited. d. Cash is debited.
Transcribed Image Text:17. Which of the following is correct, assuming the following transaction Kennedy Company received and paid the rent for the month. ital is debited. ne from Services is credited. | CHAP a. Rent Expense is debited. b. Cash is debited. Name Course C. Rent Expense is credited. d. Accounts Payable is debited. Instri 16. Which of the following is correct, assuming the following transaction Nixon Company sold services on account. a. Cash is credited. b. Accounts Receivable is credited. C. Income from Services is credited. d. Cash is debited.
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