Question
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
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started