Question
Please answer all three questions per chegg guidelines. Thank you 17. A business makes a cash payment to a creditor. Which of the following occurs?
Please answer all three questions per chegg guidelines. Thank you
17. A business makes a cash payment to a creditor. Which of the following occurs?
a. Cash is debited.
b. Expenses are credited.
c. Accounts payable is debited.
d. Accounts receivable is credited.
22. Which account would normally have a debit balance?
a. Service Revenue
b. Depreciation Expense
c. Accumulated Depreciation
d. Unearned Revenue
23. Which of the following is the correct journal entry for the cash purchase of equipment?
a. dr. Equipment, cr. Cash
b. dr. Equipment, cr. Retained Earnings
c. dr. Accounts Receivable, cr. Equipment
d. dr. Cash, cr. Equipment
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