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September 1, 2020 - Issued stock to new owners and received $8,000 cash from the new owners. Account Name Debit Credit A. Common Stock 8,000
September 1, 2020 - Issued stock to new owners and received $8,000 cash from the new owners. Account Name Debit Credit A. Common Stock 8,000 Cash 18,000 B. Cash 8,000 Common Stock 8,000 C. Common Stock 8.000 Retained Earnings 18,000 D. Retained Earnings 18,000 Cash 18,000 Account Set A Account Set B Account Set C Account Set D None of the above September 1, 2020 - Borrowed $5,000 from the bank. Bike Mail will pay the loan back to the bank in 3 months. The bank will charge Bike Mail $20 interest per month Account Name Debit Credit A. Note Payattle 5.020 Cash 5,020 B. Cash 5.000 Note Payable 5,000 C. Cash 5,000 Accounts Payable 5,000 D. Cash 15.020 Note Payable 5,020 Account Set A Account Set B Account Set C Account Set D None of the above. September 1, 2020 -Bike Mail paid $1.000 to Smart Bikes for a new delivery bike. The bike will be depreciated over a 4 year life. Account Name Debit Credit A Equipment (1.000 Cash 1.000 B. Accounts Receivable 1.000 Cash 1,000 C. Cash 1.000 'Equipment 1.000 D. Cash 1.000 Accumulated Depreciation 1,000 Account Set A Account Set B Account Set C Account Set D None of the above. September 4, 2020 -Bike Mail purchased $2,000 of bike maintenance supplies on credit (invoice payable in 10 days). The supplies will be used over the next 10 months. Bike Mail's accounting policy is to record the purchase of maintenance supplies to an asset account. Account Name Debit Credit A Supplies 12.000 Accounts Payable 12.000 B. Retained Earnings 2.000 Accounts Payable 12,000 c. Supplies Expense 12.000 Cash 2,000 D. Supplies Expense 12.000 Accounts Payable 2.000 Account Set A Account Set B Account Set C Account Set D None of the above
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