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Question 6 (1 point) For each of the following transactions, indicate the account that should be debited as part of the transaction. Used up insurance
Question 6 (1 point) For each of the following transactions, indicate the account that should be debited as part of the transaction. Used up insurance that had previously been paid for. Received cash from a customer for goods to be delivered in the future. 1. Cash 2. Accounts or trade receivable Sold goods on credit. The goods were delivered to the customer 3. Prepaid insurance 4. Insurance expense Over the course of the accounting period interest on a loan became payable 5. Interest expense > Sold goods for cash. The goods were delivered at the time of the sale. 6. Deferred revenue 7. Revenue Delivered goods to a customer who had previously paid for the goods in advance
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