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8) The firm pays $1,000 rent on its office. a) debit Rent Expense 1,000, credit Cash 1,000 b) debit Rent Expense 1,000, credit Accounts Payable
8) The firm pays $1,000 rent on its office. a) debit Rent Expense 1,000, credit Cash 1,000 b) debit Rent Expense 1,000, credit Accounts Payable 1,000 c) debit Cash 1,000, credit Rent Expense 1,000 d) debit Unearned Rent 1,000, credit Rent Expense 1,000
9) The firm receives $3,000 to do deliveries for Magneto Corporation, starting next month. a) debit Unearned Revenue 3,000, credit Prepaid Expense 3,000 b) debit Cash 3,000, credit Prepaid Expense 3,000 c) debit Cash 3,000, credit Revenue 3,000 d) debit Cash 3,000, credit Unearned Revenue 3,000
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