1) When a business pays the installment of a loan, the right recording process will be: *

a) Debit Interest expense, debit loans, credit cash

b) Credit cash, credit interest expense, credit loans

c) Credit interest expense, debit cash, debit loans

d) None of them

2) When a business hires a new office assistant, the right recording process will be: *

a) Debit Wages Payable and Credit Wages Expense

b) Credit Wages expense and debit cash

c) Credit Cash and Debit wages expense

d) None of them

3) What accounts need to be changed if company B paid 3,000 cash of supplies? *

a) Cash and Office Furniture

b) Cash and Bank accounts

c) Notes payable and cash

d) Cash and Supplies

4) When a business buys supplies on account, the right recording process will be: *

a) Debit Cash, credit supplies

b) Debit Supplies, credit supplies expense

c) Debit Supplies, credit accounts payable

d) None of them

5) When a business sells services to a customer and he agrees to pay in the future, the right recording process will be: *

a) Debit Accounts payable and Credit Cash

b) Debit Cash, Credit Revenues, and Debit Accounts receivable

c) Debit Accounts receivable and credit cash

d) Debit Accounts Receivable, Credit Revenue