Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

On November 26, Civic Company purchased $1,200 of supplies on account. The journal entry to record this transaction will include _____. a debit to Supplies

On November 26, Civic Company purchased $1,200 of supplies on account. The journal entry to record this transaction will include _____.

  1. a debit to Supplies and a credit to Cash
  2. a debit to Supplies and a credit to Accounts Payable
  3. a debit to Cash and a credit to Supplies
  4. a debit to Accounts Payable and a credit to Supplies

On November 21, Civic Company received $550 from customers in payment of their accounts. The journal entry to record this transaction will include a credit to _____.

  1. Cash
  2. Accounts Receivable
  3. Accounts Payable
  4. None of these choices are correct.

On May 21, the owner of Civic Store withdrew $1,000 cash for personal use. The journal entry to record this transaction would include a credit to _____.

  1. Cash
  2. Personal
  3. Drawings
  4. None of these choices are correct.

On December 15, Civic paid $1,900 to Sylvan Supply Company on the $1,900 debt owed from a previous transaction. The journal entry to record this transaction would include a debit to _____ account and a credit to _____ account.

  1. Accounts Receivable, Cash
  2. Accounts Payable, Cash
  3. Cash, Accounts Payable
  4. Cash, Accounts Receivable

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Horngrens Accounting

Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura, Carol A. Meissner, Jo Ann L. Johnston, Peter R. Norwood

10th Canadian edition Volume 1

978-0134213101, 134213106, 133855376, 978-0133855371

Students also viewed these Accounting questions

Question

=+8. For the decision tree of Exercise 4,

Answered: 1 week ago