Author Question: A chart of accounts is below. Following is a series of transactions. Indicate for each transaction ... (Read 28 times)

RODY.ELKHALIL · **on:** Nov 10, 2019

A chart of accounts is below. Following is a series of transactions. Indicate for each transaction the accounts that should be debited and credited by inserting the proper account number in the space provided.

111 Cash

312 C. Webster, Withdrawals

112 Accounts Receivable

411 Delivery Fees Earned

121 Delivery Equipment

511 Salaries Expense

211 Accounts Payable 512 Rent Expense

311 C. Webster, Capital

513 Advertising Expense

514 Gas Expense

Debit

Credit

Transaction

________ ________ 1. Invested cash in the business.
________ ________ 2. Received cash for delivery services performed.
________ ________ 3. Billed a customer for services performed.
________ ________ 4. Paid accounts payable.
________ ________ 5. Collected accounts receivable.
________ ________ 6. Withdrew cash for personal use.
________ ________ 7. Paid advertising expense.
________ ________ 8. Paid rent expense for the month.
________ ________ 9. Purchased delivery equipment on account.
________ ________ 10. Paid salaries for the week.

af · **Reply #1 on:** Nov 10, 2019

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