Matching Transaction Accounts Listed here are a series of accounts that are numbered for identification. Accompanying this problem are columns in which you are to write the identification numbers of the accounts affected by the trans- actions described. You may use the same account in several answers. For each transaction, indicate which account or accounts are to be debited and which are to be credited.

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1. Cash 2. Accounts receivable 3. Inventory 4. Equipment 5. Accumulated depreciation, equipment 6. Prepaid insurance 7. Accounts payable 8. Notes payable 9. Paid-in capital 10. Retained earnings 11. Sales revenues 12. Costs of goods sold 13. Operating expense (a) Purchased new equipment for cash plus a short-term note (b) Bought regular merchandise on credit (c) Made sales on credit: Inventory is accounted for as each sale is made (d) Paid cash for salaries and wages for work done during the current fiscal period (e) Collected cash from customers on account (f) Paid some old trade bills with cash (g) Purchased 3-year insurance policy on credit (h) Paid off note owed to bank (i) Paid cash for inventory that arrived today (j) To secure additional funds, 400 new shares of common stock were sold for cash (k) Recorded the entry for depreciation on equipment for the current fiscal period (1) Paid cash for ad in today's Chicago Tribune (m) Some insurance premiums have expired Debit Credit 4 1,8