The accounts that follow are applicable to Harolds Car Service, a company that repairs cars. 1. Cash
Question:
1. Cash
2. Accounts Receivable
3. Supplies
4. Equipment
5. Accounts Payable
6. Repair Services Revenue
7. Wages Expense
8. Rent Expense
Harolds completed the following transactions:
Analyze each transaction and show the accounts affected by entering the corresponding numbers in the appropriate debit or credit columns as shown in transaction a. Indicate no entry, ifappropriate.
Transcribed Image Text:
Debit Credit a. Paid for supplies purchased on credit last month. b. Received cash from customers billed last month c. Made a payment on accounts payable. d. Purchased supplies on credit. c. Billed a client for repair services f. Made a rent payment for the current month. g. Reccived cash from customers for repair services not yet billed. h. Paid employec wages i. Ordercd cquipment j. Rcceived and paid for the equipment ordered in i.
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Debit Credit a Paid for supplies purchased on credit last month 5 1 b Received cash from c...View the full answer
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Related Book For
Principles of Accounting
ISBN: 978-1133626985
12th edition
Authors: Belverd E. Needles, Marian Powers and Susan V. Crosson
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