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21 30 pts Jose Lopez is a building consultant. Shown below are (a) several accounts in his ledger with each account preceded by an identification
21 30 pts Jose Lopez is a building consultant. Shown below are (a) several accounts in his ledger with each account preceded by an identification number, and (b) several transactions completed by Mr. Lopez. Indicate the accounts debited and credited when recording each transaction by placing the proper account identification numbers to the right of each transaction. 1. Cash 2. Office Supplies 3.Accounts Receivable 4. Prepaid Insurance 5. Unearned Consulting Revenue 6. Accounts Payable 7. Dividends 8. Common Stock 9. Consulting Fees Earned 10. Telephone Expense 11. Insurance Expense 12. Office Supplies Expense Example: Completed consulting work for a client who will pay at a later date. Received cash in advance from a A. customer for designing a building B. Purchased office supplies on credit. C. Paid for the supplies purchased in B. D. Paid for a 3-year insurance policy. Received the telephone bill of the E. business and immediately paid it. Debit Credit 3 9
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