Select the two accounts you would use in MYOB for each transaction: Typical SALE transaction description Asset/liability account that receives the money? Income/expense account that describes the sale? A service sale paid immediately by electronic transfer. Bank Service Income A service sale paid immediately by cheque when that cheque was not immediately deposited in the bank. Accounts Receivable Service Income The sale, on credit, of a small physical item to one of your customers. Accounts Receivable Service Income Typical EXPENSE transaction description Asset/liability account that spends the money? Income/expense account that describes the cost? GigList fee for advertising on their platform paid immediately using internet banking. Bank Advertising & Marketing The purchase, on credit, of a small physical item on behalf of a customer for immediate resale to that customer. Accounts Payable Service Income A set of stationery supplies for Dependable Deliveries paid using cash (notes and coins) owned by the business. Bank Office Supplies