VFor the following transactions, pick the correct account$($s$)$ to debit and credit from the list provided and enter the letter$($s$)$ in the appropriate column. There may be several letters per debit or credit. The list is on two pages so check both pages before entering answer.

$1.$Issued a check to pay a creditor on account

A$.$Accounts Payable

$2.$The owner, Mandy Alvarez, withdrew $$1,200$ cash

B$.$Accounts Receivable

$3.$Bought Supplies for $$1,000,$ paying $$200$ down and the rest in$30$ days.

C$.$AccumulatedDepreciation$-$Equipment

$4.$Sold merchandise on account, $$100.$

D$.$Advertising Expense

$5.$Paid the bank service charges for the month, $$50.$

E$.$Bank Charges Expense

$6.$Purchased merchandise for resale on account, $$350,$ plusfreight charges of $$75.$

F$.$Cash

$7.$Collected $$1,200$ from clients who were billed earlier forservices.

G$.$Depreciation Expense

$8.$Cash sales for the day of $$550$ plus sales tax of $$41\mathrm{.}25$

H$.$Employee Income TaxPay

$9.$A NSF check was returned from the bank for $$525.$

I.Equipment

$10.$A firm purchased equipment for $$8,000.$

J$.$Freight$-$In

$11.$Returned damaged supplies for a cash refund of $$400$

K$.$FUTA Tax Payable

$12.$Purchased a $1-$year insurance policy and paid $$1,200$ in cash

L$.$Health Insurance Payable

$13.$Established a petty cash fund, $$200.$

M$.$Income Summary

$14.$The owner, Mandy Alvarez, invested an additional $$2,000$ inthe business

N$.$Insurance Expense

$15.$Recorded the depreciation for the month of $$700$

O$.$Interest Income

$16.$A memo shows the bank collected a $$100$ note receivable plusinterest of $$110.$

P$.$Interest Expense

$17.$A customer returns merchandise worth $$125$ plus sales tax of$$9\mathrm{.}38$ and we issued a credit memo

Q$.$Interest Payable

$18.$Made an adjustment for supplies used at the end of the monthof $$200$

R$.$Mandy Alvarez, Capital

$19.$Paid the monthly rent of $$1,850$

S$.$Mandy Alvarez, Drawing

$20.$Paid $$560$ for the monthly utility bill.

T$.$Medicare Tax Payable

$21.$Returned merchandise that was defective to a supplier andreceived a credit memo for $$350$

U$.$Merchandise Inventory

$22.$Closed Sales and Interest Income at the end of the fiscal year

V$.$Miscellaneous Expense

$23.$Closed the Repair Expense and Rent Expense accounts at theend of the fiscal year

W$.$Notes Receivable

$24.$Closed the income summary account at the end of the year$$assume there was a net income

X$.$Payroll Tax Expense

$25.$Bought supplies on account, $$85$

Y$.$Petty Cash Fund

$26.$Wrote check for $$105$ to replenish the Petty Cash Fund $$Repairs Expense of $$30,$ Miscellaneous Expense of $$25,$ andSupplies of $$50.$

Z$.$Prepaid Advertising

$27.$Closed the drawing account at the end of the year

$1.$Prepaid Insurance

$28.$Made an adjustment for insurance used for the month of $$100.$

$2.$Purchases

$29.$Made adjustment to close the beginning merchandise inventoryof $$86,000.$

$3.$Purchase Returns &Allowances

$30.$Made the adjustment to enter the ending merchandise inventoryof $$98,000.$

$4.$Repair Expense

$31.$Closed Income Summary at end of the year$$assume a net loss

$5.$Rent Expense

$32.$Made adjustment for advertising used of $$400$

$6.$Sales

Name $\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_$

Page $3$

$33.$Made adjusting entry for interest on a note payable for $$56$

$7.$Sales Returns &Allowances

$34.$Received in advance $$84,000$ in accounting fees for $1$yr service

$8.$Sales Tax Payable

$35.$Made the reversing entry for interest expense

$9.$Social Security TaxPayable

$36.$Paid the payroll taxes due for the month$$Medicare TaxPayable of $$125$; Social Security Tax Payable of $$155$;Employee Income Tax Payable of $$260\mathrm{.}10.$

#$.$ Supplies

$37.$Record the payroll for month$$gross earnings of $$2130$; socialsecurity tax of $$132$; employee income tax of $$229$; Medicaretax of $$31$; Health Insurance of $$46$; net pay of $$1692.$

$*.$ Supplies Expense

$38.$Wrote check to pay Wages Payable

$\%.$ SUTA Tax Payable

@$.$ Utilities Expense

&$.$ Unearned Accounting Fees

$$.$ Wages Payable

$+.$Salary Expense