Question
Indicate which of the following accounts should be debited and which should be credited. An example has been provided (ex). Purchase Office Supplies in exchange
Indicate which of the following accounts should be debited and which should be credited. An example has been provided (ex). Purchase Office Supplies in exchange for cash Debit : N (Supplies) Credit: C (Cash)see below. Only include the letter of the account not the account name.
| E. Dividends | I. Rent expense | M. Service revenue |
| F. Office Equipment | J. Retained earnings | N. Supplies |
| G. Notes payable | K. Salaries expense | O. Utilities expense |
| H. Prepaid rent | L. Salaries payable |
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| Account Debited | Account Credited |
ex | Purchase Office Supplies in exchange for cash | N | C |
10. | Purchased office equipment on account |
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11. | Provided services on account |
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12. | Received utility bill and paid it the same day |
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13. | Used rent that had been paid for in advance |
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