Torres Company paid monthly rent, $1,600. Which two accounts are affected?Choose one Accounts Payable Accounts Receivable Accumulated
Question:
Torres Company paid monthly rent, $1,600.
Which two accounts are affected?Choose one
Accounts Payable
Accounts Receivable
Accumulated Depreciation, Buildings
Accumulated Depreciation, Equipment
Advertising Expense
Buildings
Capital
Cash
Depreciation Expense, Buildings
Depreciation Expense, Equipment
Drawing
Equipment
Insurance Expense
Interest Payable
Interest Expense
Land
Prepaid Advertising
Prepaid Insurance
Prepaid Rent
Rent Expense
Rent Revenue
Salaries Expense
Salaries Payable
Service Revenue
Supplies
Supplies Expense
Deferred Rent Revenue
Utilities Expense
Utilities Payable
Deferred Revenue
Wages Expense
Wages Payable
Choose one
Accounts Payable
Accounts Receivable
Accumulated Depreciation, Buildings
Accumulated Depreciation, Equipment
Advertising Expense
Buildings
Capital
Cash
Depreciation Expense, Buildings
Depreciation Expense, Equipment
Drawing
Equipment
Insurance Expense
Interest Payable
Interest Expense
Land
Prepaid Advertising
Prepaid Insurance
Prepaid Rent
Rent Expense
Rent Revenue
Salaries Expense
Salaries Payable
Service Revenue
Supplies
Supplies Expense
Deferred Rent Revenue
Utilities Expense
Utilities Payable
Deferred Revenue
Wages Expense
Wages Payable
What kind of accounts are they?Choose one
Asset
Liability
Owner's Equity (Capital)
Owner's Equity (Drawing)
Owner's Equity (Revenue)
Owner's Equity (Expense)
Choose one
Asset
Liability
Owner's Equity (Capital)
Owner's Equity (Drawing)
Owner's Equity (Revenue)
Owner's Equity (Expense)
Do the account balances increase or decrease?
Increase
Decrease
Increase
Decrease
Do wedebitorcreditthe accounts?
Debit
Credit
Debit
Credit