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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
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 10) The firm pays Nancy Proton, the firm's owner, a $700 dividend. a) debit Cash 700, credit Dividend 700 b) debit Cash 700, credit Barry Allen 700 c) debit Common Stock 700, credit Cash 700 d) debit Dividends 700, credit Cash 700
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