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Homework answers / question archive / math
math.com Principles of Accounting W21 (1) arbi duro & 01/21/21 854 AM Homework: Chapter 2 - Homework Questions Save Score: 0.44 of 1 pt 1 of 3 (1 complete HW Score: 14.50% 0 44 of 3 pe S2-6 (book/static) Question State the account to be debited and the account to be credited for the following transactions. Choose from the following list of account Cash Account Recent Supplies, Et Land Accounts Payable Payable Capital, Withdrawals Service Revenue Expense and Salario Experte Het Not all accounts will be used Debit Cash Supplies Great Capital Cash Service Review Note Payable Equipment Owner investi cash in the business b. Purchased supplies for cash Performed Services for cash d Purchased equip by suing a note payable o Purchased supplies on account Performed services on account Received cash on account + Paid it croito on account Activate Window Choose toman drop to stand then chox Check Answer Check CHA All parts showing 254 FM WTLARI
Debit Credit
E. Supplies Accounts payable
F. Accounts Receivable Service Revenue
G. Cash Accounts Receivable
H. Account Payable Cash
E. Since, the supplies are purchased on account so, supplies are debited and the accounts payable are creditd.
F. The services are performed on account so, the fund is still to be received thats why the accounts receivable is debited and service revenue is credit.
G. the cash is received which were due , so the cash is debited and accounts receivable is credited.
H. the creditors are paid so , the cash is credited and accounts payable is debited because it is reduced.
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