TransactionsDebitedCredited

Example: Purchased office supplies for cash41

a. Issued capital stock for cash.____

b. Purchased an automobile and signed a 60-day note for the total amount.____

c. Acquired land in exchange for capital stock.____

d. Received cash from clients for services performed during the month.____

e. Paid employee's salaries and wages earned during the month.____

f. Purchased flyers and signs from a printer, payment due in 10 days____

g. Paid for the flyers and signs purchased in (f)____

h. Received monthly telephone bill, payment is due with 10 days of receipt.____

i. Paid for a six-month liability insurance policy.____

j. Paid monthly telephone bill.____

k. Computed amount of taxes due based on the income of the period and paid the amount.___