Question
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.
| E. Dividends | I. Rent expense | M. Service revenue |
| F. Equipment | J. Retained earnings | N. Supplies |
| G. Notes payable | K. Salaries expense | O. Utilities expense |
| H. Prepaid rent | L. Salaries payable |
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| Account Debited | Account Credited |
ex | Purchase Office Supplies in exchange for cash | N | C |
10. | Paid dividends to owners. |
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11. | Customers paid for services provided last month. |
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12. | Received utility invoice; the company will pay next week. |
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13. | Recorded salaries for the month, will pay next week. |
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