Analyze each transaction and show the accounts affected by

Assignment Help Accounting Basics

Reference no: EM13573517

Analyze each transaction and show the accounts affected by entering the corresponding numbers in the appropriate debit or credit column as shown in transaction (a). Indicate "no entry", if appropriate.

1. Cash

2. Accounts Receivable

3. Supplies

4. Prepaid Insurance

5. Equipment

6. Notes Payable

7. Accounts Payable

8. Common Stock

9. Retained Earnings

10. Dividends

11. Service Revenue

12. Rent Expense

13. Repair Expense

Transactions	Debit	Credit
a) Paid for supplies purchased on credit last month	7	1
b) Billed customers for services performed
c) Paid the current month's rent
d) Purchased supplies on credit
e) Received cash from customers for services performed
f) Purchased equipment on account
g) Received a bill for repairs
h) Returned part of equipment purchased in (f) for credit
i) Received payments from customers previously billed
j) Paid the bill received in (g)
k) Received and order for services to be performed
l) Paid for repairs with cash
m) Made a payment to reduce the principal of the note payable
n) Declared and paid a dividend

Reference no: EM13573517

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