Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1. If a company received a utility bill and immediately paid the bill, which accounts would be used in the journal entry? (select all that

1. If a company received a utility bill and immediately paid the bill, which accounts would be used in the journal entry? (select all that apply)

A. Debit cash

B. Credit cash

C. Debit utility expense

D. Credit utility expense

E. Debit accounts receivable

F. Credit accounts payable

2. If a company paid cash for an oil change on the company truck, which accounts would be used in the journal entry? (select all that apply)

A. Debit cash

B. Credit cash

C. Debit vehicle expense

D. Credit vehicle expense

E. Debit equipment

F. Credit equipmen

3. If a company paid for this month's rent, which accounts would be used in the journal entry? (select all that apply)

A. Debit cash

B. Credit cash

C. Debit rent expense

D. Credit rent expense

E. Debit drawing

F. Credit drawing

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Knowledge Based System For Information System Audit

Authors: Amol B. Devale, R. V. Kulkarni

1st Edition

6200652376, 978-6200652379

More Books

Students also viewed these Accounting questions