Reference no: EM133009725

Problem 1: which of the following accounts always has a credit value balance?

a) debtor
b) loan payable
c) Bank
d) equipment

Problem 2: A service was performed for a client with payment due in 30 days. What accounts are affected?

a) debit Capital, credit Bank.
b) debit Bank, Credit accounts receivable
c) debit accounts receivable, credit capital
d) Credit accounts payable, debit to capital.

Problem 3: A further investment in the business was made by the owner what accounts are affected

a) debit bank, credit to accounts payable
b) debit loan payable, credit bank
c) debit bank credit capital
d). Debit capital, credit bank