For the following transaction, using theQuiz 1 Chart of Accounts Download Quiz 1 Chart of Accountsprovided, clearly specify which account number is debited and which account number is credited.

Borrowed from the bank with a loan to be repaid in the future.

QUIZ 1 CHART OF ACCOUNTS Service Business using Accrual Accounting Account Number Account Title 101 Cash at Bank 110 Accounts Receivable 115 Prepaid Insurance 116 Prepaid Rent 118 Office Supplies 130 Computer Equipment 131 Accumulated Depreciation - Computer Equipment 135 Office Equipment 136 Accumulated Depreciation - Office Equipment 201 Accounts Payable 203 Wages Payable 205 Unearned Revenue 208 Interest Payable 210 Loan Payable 301 Capital 302 Drawings 401 Service Revenue 402 Interest Revenue 501 Advertising Expense 503 Bank Charges 505 Depreciation Expense - Computer Equipment 506 Depreciation Expense - Office Equipment 520 Insurance Expense 530 Interest Expense 542 Office Supplies Expense 560 Rent Expense 580 Telephone and Internet Expense 582 Utilities Expense 585 Wages Expense