Ecuyer Inc. had the following transactions during the month of December, 2022. Identify the account to be
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Ecuyer Inc. had the following transactions during the month of December, 2022. Identify the account to be debited and the account to be credited for each transaction.
Transaction | Debit | Credit | ||
---|---|---|---|---|
1. Paid for online advertising for the month of December. | ?Accounts PayableAdvertising ExpenseAccounts ReceivableCashPrepaid AdvertisingUnearned Service RevenueSuppliesSalaries and Wages Expense | ?Prepaid AdvertisingCashAccounts ReceivableSalaries and Wages ExpenseAdvertising ExpenseUnearned Service RevenueAccounts PayableSupplies | ||
2. Paid for advertising to be run in print media during January and February, 2023. | ?Unearned Service RevenueAccounts PayableAccounts ReceivableSuppliesSalaries and Wages ExpenseAdvertising ExpensePrepaid AdvertisingCash | ?Salaries and Wages ExpensePrepaid AdvertisingAdvertising ExpenseCashUnearned Service RevenueAccounts ReceivableAccounts PayableSupplies | ||
3. Collected cash on account. | ?CashAccounts ReceivableUnearned Service RevenueAdvertising ExpenseAccounts PayableSalaries and Wages ExpenseSuppliesPrepaid Advertising | ?Advertising ExpenseSuppliesCashAccounts ReceivablePrepaid AdvertisingUnearned Service RevenueAccounts PayableSalaries and Wages Expense | ||
4. Collected cash for services to be performed in January, 2023. | ?CashAccounts ReceivableUnearned Service RevenuePrepaid AdvertisingSalaries and Wages ExpenseAccounts PayableSuppliesAdvertising Expense | ?Advertising ExpensePrepaid AdvertisingCashAccounts ReceivableUnearned Service RevenueAccounts PayableSalaries and Wages ExpenseSupplies |
Related Book For
Financial Accounting Tools for Business Decision Making
ISBN: 978-1118644942
6th Canadian edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso, Barbara Trenholm, Wayne Irvine
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