muestion 16 For each transaction, drag and drop the correct account to debit and the correct account to credit (the dollar amounts are for information only) ncomplete answer Marked out of 25,00 Land Credit 10 Bought land for 15,000 shares with a $35 per share market value. Debit Common shares Paid six months rent in advance for a total of $6,000. Debit P Flag question 19 Credit b) Finis! Pald Insurance premiums for the year in the amount of $8,000. Debit Credit C) Time Bought a building for $250,000. Paid one-fifth in cash and the balance with a 10-year, 6% Interest note par Debit Credit Credit Purchased $20,000 of merchandise inventory on credit. Debit Credit Credit 1) Pald utilities bill for $450. Debit Credit Sold $8,000 of merchandise inventory for $12,000 on credit Debit Debit Credit Collected a $10,000 cash deposit from customers for custom orders Debit Credit D) Pald salaries and wages of $8,500. Debit Credit Paid $8,000 on merchandise inventory previously purchased in parte) Debit Cre Credit k) Received $7.000 from customers on account Debit 1) Declared and paid a $5,000 dividend. Debit Credit Credit 1) Paid utilities bill for $450. Debit Credit Sold $8,000 of merchandise Inventory for $12,000 on credit. Debit 9) Credit Collected a $10,000 cash deposit from customers for custom orders. Debit Debit Credit D Paid salaries and wages of $8,500. Debit Credit Paid $8,000 on merchandise inventory previously purchased in parte), Debit Cre Credit K) Received $7,000 from customers on account Debit Declared and paid a $5,000 dividend. Debit Credit Cash Prepaid insurance Accounts receivable Inventory Accounts payable Dividend payable Common shares Retained earnings Dividends declared Sales Revenue Building Insurance expense Land Cost of Goods Sold Equipment Depreciation Expense Notes Payable Salaries & Wages Prepaid Rent Rent Expense Unearned Revenue Utilities