Record the journal entries based on the information given. When completing the journal entries, choose from the following accounts:

Cash	Owner Capital
Accounts Receivable	Service Revenue
Office Supplies	Depreciation Expense
Prepaid Insurance	Insurance Expense
Truck	Office Supplies Expense
Machine	Salaries Expense
Accumulated Depreciation	Telephone Expense
Accounts Payable
Unearned Revenue
Salaries Payable
Notes Payable

1. The owner invested $20,000 of cash into the business. The account that gets debited is . The account that gets credited is .

3 points

QUESTION 2

1. Building depreciation for the month is $500. The account that gets debited is . The account that gets credited is .

3 points

QUESTION 3

1. Work in the amount of $2700 was performed for a client. The client will pay at the end of the contract. What is the journal entry to accrue the revenue earned? The account that gets debited is . The account that gets credited is .

3 points

QUESTION 4

1. During December, the company earned $750 of previously recorded unearned revenue. The account that gets debited is . The account that gets credited is .

3 points

QUESTION 5

1. Paid employee salaries in the amount of $2,200. The account that gets debited is . The account that gets credited is .

3 points

QUESTION 6

1. The normal balance of a revenue account is? (Debit or Credit)

1 points

QUESTION 7

1. Completed work for a client. The client paid cash in the amount of $3,000. The account that gets debited is . The account that gets credited is .

3 points

QUESTION 8

1. Received a $25,000 loan from the bank. The account that gets debited is . The account that gets credited is .

3 points

QUESTION 9

1. One month of the prepaid insurance policy has been used up. The account that gets debited is . The account that gets credited is .

3 points

QUESTION 10

1. Prepaid $3600 cash for a one-year insurance policy. The account that gets debited is . The account that gets credited is .

3 points

QUESTION 11

1. The normal balance of the owner capital account is? (Debit or Credit)

1 points

QUESTION 12

1. Received a telephone bill in the amount of $100 that will be paid next month. The account that gets debited is . The account that gets credited is

QUESTION 14

1. The normal balance of the owner drawing account is? (Debit or Credit)

1 points

QUESTION 15

1. The business purchased $800 of office supplies on account. The account that gets debited is . The account that gets credited is .

3 points

QUESTION 16

1. The normal balance of an asset account is? (Debit or Credit)

1 points

QUESTION 17

1. Completed $5,000 of work for a client who will pay next month. The account that gets debited is . The account that gets credited is .

3 points

QUESTION 18

1. Salaries for employees accrued by $1700. The account that gets debited is . The account that gets credited is .

3 points

QUESTION 19

1. A client made a $500 deposit for work to be performed next month. The account that gets debited is . The account that gets credited is .

3 points

QUESTION 20

1. On December 1, the company purchased $5,000 worth of office supplies. A count of the supplies on December 31, showed that only $1,000 supplies were on hand. What is the entry to record the supplies used? The account that gets debited is . The account that gets credited is .

3 points

QUESTION 21

1. Purchased a machine for $2,500 in cash. The account that gets debited is . The account that gets credited is .

3 points

QUESTION 22

1. Received $1,000 cash from a client that owed the company for last month's services. The account that gets debited is . The account that gets credited is .

3 points

QUESTION 23

1. The normal balance of a liability account is? (Debit or Credit)

1 points

QUESTION 24

1. The normal balance of an expense account is? (Debit or Credit)

1 points

QUESTION 25

1. Purchased truck on account in the amount of $10,000. The account that gets debited is . The account that gets credited is