Debits and Credits For the following transactions, indicate whether the accountant for El Paso Company should debit or credit the accounts in parentheses. Use dr. or cr.:

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1. El Paso sold merchandise on credit (Accounts Receivable). 2. El Paso declared dividends and paid them in cash (Retained Earnings). 3. El Paso received interest on an investment (Interest Revenue). 4. El Paso paid wages to employees (Wages Expense). 5. El Paso sold merchandise for cash (Sales Revenue). 6. El Paso acquired a 4-year fire insurance policy (Prepaid Expenses).