R. Dalberg operates Dalberg’s Tours. The company has the following chart of accounts:

Using the chart of accounts, record the following transactions in pairs of T accounts. Give the T account to be debited first and the account to be credited to the right. Show debit and credit and plus and minus signs. (Example: Received and paid the bill for the month’s rent, $ 480.)

a. Received and paid the electric bill, $ 175.
b. Bought supplies on account, $ 135.
c. Paid for insurance for one year, $ 580.
d. Made a payment on account to a creditor, $ 65.
e. Received and paid the telephone bill, $ 186.
f. Sold services on account, $ 1,375.
g. Received and paid the gasoline bill for the van, $ 130.
h. Received cash on account from customers, $ 1,458.
i. Dalberg withdrew cash for personal use, $700.

  • CreatedOctober 21, 2014
  • Files Included
Post your question