James Lido decides to start his own business. He plans to invest $35,000 in cash in the company. As an accountant, you would tell Mr. Lido to: a) debit Retained Earnings and credit Cash for $35,000 b) debit Cash and credit Retained Earnings for $35,000 c) debit Common Stock and credit Retained Earnings for $35,000 d) debit Common Stock and debit Retained Earnings for $35,000 e) debit Cash and credit Common Stock for $35,000 Which of the following accounts is increased with a debit? a) Accounts Payable b) Notes Payable c) Merchandise Inventory d) Common Stock e) Sales Revenue The Farthing Company repaid a bank loan of $5,000. As the accountant, you would tell the bookkeeper to: a) debit Cash and credit Notes Receivable for $5,000 b) debit Notes Receivable and credit Cash for $5,000 c) debit Cash and credit Accounts Payable for $5,000 d) debit Cash and credit Notes Payable for $5,000 e) debit Notes Payable and credit Cash for $5,000 James Lido decides to start his own business. He plans to invest $35,000 in cash in the company. As an accountant, you would tell Mr. Lido to: a) debit Retained Earnings and credit Cash for $35,000 b) debit Cash and credit Retained Earnings for $35,000 c) debit Common Stock and credit Retained Earnings for $35,000 d) debit Common Stock and debit Retained Earnings for $35,000 e) debit Cash and credit Common Stock for $35,000 Which of the following accounts is classified differently from the others in the list? a) Notes Payable b) Accounts Receivable c) Merchandise Inventory d) Prepaid Rent e) Cash