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For the following transactions, indicate the account debited and the account credited. (a) Supplies are purchased on account. (b) Cash is received on signing a note payable. (c) Employees are paid salaries in cash.

Chapter 3, Questions #12

For the following transactions, indicate the account debited and the account credited.

(a) Supplies are purchased on account.

(b) Cash is received on signing a note payable.

(c) Employees are paid salaries in cash.


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(a) Debit Supplies and credit …View the full answer

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Related Book For answer-question
Financial Accounting Tools for business decision making

Financial Accounting Tools for business decision making

6th Edition

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso

ISBN: 978-0470534779

Answers for Questions in Chapter 3

Brief Exercises:
Broadening Your Perspective:
Continuing cookie chronicle:
DO IT! Review:
Exercises:
IFRS Exercises:
Problem Set A:
Problem Set B:
Questions:

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