Credit Brief Exercise 232 For each of the following transactions of Woods Inc., identify the account to be debited and the account to be credited. Transaction Debit 1. Purchased 18-month insurance policy for cash. 2. Paid weekly payroll. 3. Purchased supplies on account. 4. Received utility bill to be paid at later date. Click if you would like to Show Work for this question: Open Show Work s Question Attempts: 0 of 2 used