Question
Choose two appropriate account names for each of the following business transactions. State whether you would debit or credit each of the accounts. a. D.
Choose two appropriate account names for each of the following business transactions. State whether you would debit or credit each of the accounts.
a. D. Dango commenced business DD by contributing cash.
b. Cash sales by DD to customer.
c. Paid business registration fees.
d. Paid wages to part-time employee.
e. Cash purchases of inventory.
f. Sold goods on credit to customer.
g. Borrowed money from Sunny Days Bank.
h. Purchased office desk for cash from Retro Office Furniture.
i. Received interest from Sunny Days Bank.
a. | |
b. | |
c. | |
d. | |
e. | |
f. | |
g. | |
h. | |
i. |
Additional Question
Using your answers to 4.23, record the transactions in the journal format using xxx as the amounts:
Date | Details | Debit | Credit |
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