Question 12 Amazing Books began operations earlier this year. Use the following chart of accounts as listed alphabetically Marked out of 16.00 Flag Question Accounts Payable Accounts Receivable Bank Loan Payable Building Cash Common Shares Chart of Accounts Cost of Goods Sold Dividends Declared Dividends Payable Insurance Expense Interest Expense Inventory Land Prepaid Irisurance Sales Revenue Unearned Revenue Wages Expense Wages Payable Required: From the chart of accounts (duplicated below), click and drag, the account name to be debited and credited for each of the transactions listed below. You may use an account once, more than once, or none at all. Transaction Debit Credit # Bank Loan Payable The company paid $2,000 Example on its bank loan, which included $150 of interest. Interest Expense Cash 1 The company borrowed $250,000 from the bank. 2 The company purchased a building for a total of $150,000 by issuing common shares 3 The company paid $2,400 for a one-year Insurance policy for the building Time left 0 29:38 Purchased $200,000 Inventory on account 5 The cost of the inventory that was sold to customers was $142,000 UN INI Customers paid $5,000 in advance for goods that will be delivered later 7 Paid $75,000 on account due to suppliers (from #4) GO The board of directors declared dividends of $2,000 in December, to be paid in January Accounts Payable Accounts Receivable Bank Loan Payable Building Cash Common Shares Cost of Goods Sold Dividends Declared Dividends Payable Insurance Expense Interest Expense Inventory Land Prepaid Insurance Sales Revenue Unearned Revenue Wages Expense Wages Payable page Next page