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Use the following to answer questions 10 -13 Indicate which of the following accounts should be debited and which should be credited. An example has
Use the following to answer questions 10 -13 Indicate which of the following accounts should be debited and which should be credited. An example has been provided (ex). Purchase Office Supplies in exchange for cash Debit N (Supplies) Credit: C (Cash)...see below. Only include the letter of the account not the account name. A. Accounts payable M. Service revenue E. Dividends I. Rent expense J. Retained earnings N. Supplies O. Utilities expense F. Equipment G. Notes payable H. Prepaid rent B. Accounts receivable K. Salaries expense C. Cash L. Salaries payable D.Common stock Account Debited Account Credited Purchase Office Supplies in exchange for cash ex Paid dividends to owners. 10 Customers paid for services provided last month. 11. 12 Received utility invoice; the company will pay next week. Recorded salaries for the month, will pay next week. 13
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