Question
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 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 account number in the appropriate boxes. CHART OF ACCOUNTS 1 Cash 2 Accounts 8 9 Common Stock Receivable 3 Paper Supplies 10 4 Copy Machines 11 5 Accounts Payable 12 6 Note Payable 13 7 Unearned Revenue Retained Earnings Dividends Service Revenue Advertising Expense Rent Expense Number(s) Number(s) of account(s) debited. of account(s) credited 1. Purchased three digital copy machines for $400.000, signing a 5-year. 6% note. Debit Credit 2 Purchased $5,000 paper supplies on credit. Debit Credit 1. Purchased three digital copy machines for $400,000, signing a 5-year, 6% note Debit Credit 2. Purchased $5,000 paper supplies on credit. Debit Credit 3. Cash received for photocopy services amounted to $7,000 Debit Credit 4 Paid $800 on account for paper supplies purchased in transaction 2 Debit Credit 5 Dividends of $1.500 were paid to stockholders Debit Credit
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