Identify the two account titles that should be used to record each side of the following transactions (a) Cash sales (b) Services performed on account (c) Supplies purchased on account (d) Collection of a customer 's account (e) Payment of an amount owing to a supplier (f) Payment of a dividend to ...

a Cash and Sales Revenue b Accounts Receivable and Servi ...

Identify the two account titles that should be used to record each side of the following transactions:

Question:

Identify the two account titles that should be used to record each side of the following transactions:

(a) Cash sales

(b) Services performed on account

(d) Collection of a customer's account

(e) Payment of an amount owing to a supplier

(f) Payment of a dividend to shareholders

(g) Payment of income taxes

Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...