The chart of accounts used by Norton Printing Company is listed below. You are to indicate the proper accounts to be debited and credited for the following transactions by writing the account number(s) in the appropriate boxes.

The chart of accounts used by Norton Printing Company is listed below. You are to indicate the proper accounts to be debited and credited for the following transactions by writing the accountnumberin the appropriate boxes.

CHART OF ACCOUNTS

1 Cash

8Common Stock

2 Accounts Receivable

9Retained Earnings

3 Paper Supplies

10Dividends

4 Copy Machines

11Service Revenue

5 Accounts Payable

12Advertising Expense

6 Note Payable

13Rent Expense

7 Unearned Revenue

Number(s) of account(s)debited

Number(s)of account(s) credited

1.Purchased three digital copy machines for $400,000, signing a 5-year, 6% note.DebitCredit

2.Purchased $5,000 paper supplies on credit.DebitCredit

3.Cash received for photocopy services amounted to $7,000.

DebitCredit

4.Paid $800 on account for paper supplies purchased in transaction 2.

DebitCredit

5.Dividends of $1,500 were paid to stockholders.

DebitCredit