Intermediate Accounting (16th Edition)

Published by Wiley
ISBN 10: 1118743202
ISBN 13: 978-1-11874-320-1

Chapter 3 - The Accounting Information System - Review and Practice - Questions - Page 127: 3


Transaction (a): Accounts receivable (debit), Service revenue (credit) Transaction (b): Cash (debit), Accounts receivable (credit) Transaction (c): Supplies (debit), Accounts payable (credit) Transaction (d): Delivery Expense (debit), Cash (credit)

Work Step by Step

Its important to note that while conducting business transactions, these transactions need to be accounted for using two accounts that is; the credit and debit accounts depending on the nature of the transaction.
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