Some of the ledger accounts for a company are listed below. For each of the October transactions numbered 1 through 10 below, indicate by account name which accounts should be debited and which should be credited when preparing journal entries. The company uses the perpetual inventory system.

Accounts payable, Equipment, Inventory, Accounts receivable, Cash, Supplies, Supplies expense, Prepaid rent, Sales revenue, Retained earnings, Notes payable, Common stock, Deferred sales revenue, Rent expense, Salaries payable, Cost of goods sold, Salaries expense, Interest expense, Dividends.

\begin{tabular}{|l|l|l|} \hline \multicolumn{1}{|c|}{ Transactions } & Account Debited \\ \hline Example: Purchased inventory for cash & Inventory \\ \hline 1. Paid a cash dividend. & & Cash \\ \hline 2. Paid rent for the next three months. & & \\ \hline 3-a. Sold goods to customers on account. (To record sale of goods to customers.) & & \\ \hline 3-b. Sold goods to customers on account. (To record cost of goods sold to customers.) & \\ \hline 4. Purchased inventory on account. & \\ \hline 5. Purchased supplies for cash. & \\ \hline 6. Issued common stock in exchange for cash. & \\ \hline 7. Collected cash from customers for goods sold in transaction 3. & \\ \hline 8. Borrowed cash from a bank and signed a note. & \\ \hline 9. Paid salaries for the month of October. & \\ \hline 10. Received cash for advance payment from customer. & \\ \hline \end{tabular}