Answered step by step
Verified Expert Solution
Question
1 Approved Answer
For the following entry, using the Chart of Accounts provided, clearly specify which account number is debited and which account number is credited. Received interest
For the following entry, using the Chart of Accounts provided, clearly specify which account number is debited and which account number is credited.
Received interest revenue from the bank..
QUIZ 1 CHART OF ACCOUNTS Service Business using Accrual Accounting Account Number Account Title 101 110 115 116 118 130 131 135 136 201 203 205 209 210 301 302 401 402 501 503 505 508 520 530 542 560 580 582 685 Cash at Bank Accounts Receivable Prepaid Insurance Prepaid Rent Office Supplies Computer Equipment Accumulated Depreciation-Computer Equipment Offion Equipment Accumulated Depreciation Office Equipment Accounts Payable Wages Payable Unearned Revenue Interest Payable Loan Payable Capital Drawings Service Revenue Interest Revenue Advertising Expense Bank Charges Depreciation Expense-Computer Equipment Depreciation Expense Office Equipment Insurance Expense Interest Expense Office Supplies Expense Rent Expense Telephone and internet Expense Usines Expense Wages Expanse
Step by Step Solution
★★★★★
3.41 Rating (154 Votes )
There are 3 Steps involved in it
Step: 1
1 101 Cash at Bank Debit balance 2 110 Account Receivable Debit balance 3 115 Prepaid insurance Debi...Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started