15 How are explanations distinguished in the journal? a) They are underlined. b) They are in bold print. c) They are indented below the credit entries. d) They are written at the margin, in line with the debit entries. 16 The journal entry debiting Cash and crediting Capital would be a result of a(n): a) withdrawal. b) expense. c) investment. d) revenue. 17 If you debit Prepaid Insurance, you most likely will: a) credit Fees Earned. b) debit Cash. c) credit Insurance Expense. d) credit Cash. 18 The entry to record the payment of office salaries would be: a) Debit Cash; Credit Accounts Receivable b) Debit Cash; Credit Salaries Expense c) Debit Salaries Expense; Credit Accounts Payable d) Debit Salaries Expense; Credit Cash 19 Which of the following entries would record the payment of a utility bill? a) Utilities Expense, debit; Cash, credit b) Cash, debit; Utilities Expense, credit c) Utilities Expense, debit; Accounts Payable, credit d) Accounts Payable, debit; Utilities Expense, credit 20 Which of the following entries records the owner taking cash for personal use? a) Wage Expense, debit; Cash, credit b) Capital, debit; Cash, credit c) No entry is necessary since the owner owns the cash and the entire business. d) Withdrawals, debit; Cash, credit 21 Select the accounts affected by the following transaction: TJ Rex receives $100 for previous lessons provided on account. a. Cash and Accounts Receivable b. Cash and Revenue c. Accounts Receivable and Revenue d. Cash and Expenses