Question
Required For eac h of the follow ing independent events. id e nt ify the acco un t th at wo uld be debit e
Required For eac h of the follow ing independent events. id e nt ify the acco un t th at wo uld be debit e d a nd the acco unt that would be credited. The account s for the first event are identi fied as a n exa mp le. Event a Account Debited Cash Account Credited Common Stock a. Received cas h by iss uing commo n s tock. b. Rece ived cash for services to be perform ed in the future. c. Provided services on account. d. Paid acco unt s payab le. c. Paid cash in advance for one yea r's rent. f. Paid cas h fo r o pera ting ex penses. g. Paid sala ries payable. h . Purchased supp lie s on acco unt. i. Pa id ca s h dividen ds to the stoc kho lders. j. Recog nized revenue for serv ices co mple t e d: p revio usly co llec ted the cash in Event b.
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