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Hokies uses the following accounts: Accounts Payable Cash Prepaid Rent Common Stock Salaries Payable Equipment Supplies Rent Expense Notes Payable Salaries Expense Accounts Receivable Utilities
Hokies uses the following accounts:
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.
tableTransactionsAccount Debited,Account CreditedExample: Purchase equipment in exchange for cash.,Equipment,Cash Pay a cash dividend.,, Pay rent in advance for the next three months.,, Provide services to customers on account.,, Purchase office supplies on account.,, Pay salaries for the current month.,, Issue common stock in exchange for cash.,, Collect cash from customers for services provided in above.,, Borrow cash from the bank and sign a note.,, Pay for the current month's utilities.,, Pay for office supplies purchased in above.,,
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