Reference no: EM133009726

Problem 1: A $750 payment was made on the bank loan. What accounts are effected

a) debit to bank and A credit to bank loan
B) A debit to accounts receivable and a credit to bank
d) debit to bank loan and a credit to bank

Problem 2: Businesses performed a service and received payment of $1 500 cash, with the remaining $2 500 to be paid later. What accounts are affected?

a) debit bank credit Accounts Payable credit capital
b) debit bank, credit accounts receivable, credit capital
c) debit bank, debit accounts payable, credit capital
d) debit bank, debit account receivable, credit capital