Accounts Payable Cash Prepaid Rent Common Stock Salaries Payable Equipment Supplies Rent Expense Notes Payable Salaries Expense Accounts Receivable Utilities Expense Service Revenue Retained Earnings Dividends Required: Indicate which accounts should be debited and which should be credited for the following transactions of Hokies company. Transactions Example: Purchase equipment in exchange for cash. 1. Pay a cash dividend. 2. Pay rent in advance for the next three months. 3. Provide services to customers on account. 4. Purchase office supplies on account. 5. Pay salaries for the current month. 6. Issue common stock in exchange for cash. 7. Collect cash from customers for services provided in (3) above. 8. Borrow cash from the bank and sign a note. 9. Pay for the current month's utilities. 10. Pay for office supplies purchased in (4) above. Account Debited Account Credited Equipment Cash