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The owner puts $10000 of personal money into the business

Debit Cash Credit Owner's Capital

The company sells ownership shares for $5000

Debit Cash Credit Common Stock

The business buys a computer for $1200 and pays immediately

Debit Equipment Credit Cash

The business buys $300 of office materials and pays immediately

Debit Supplies Credit Cash

The business purchases $900 of products to resell and pays immediately

Debit Inventory Credit Cash

The business purchases property for $20000 and pays immediately

Debit Land Credit Cash

The business purchases an office building for $80000 and pays immediately

Debit Building Credit Cash

The business pays $6000 now for the next six months of rent

Debit Prepaid Rent Credit Cash

The business pays $2400 now for insurance coverage for future months

Debit Prepaid Insurance Credit Cash

The business receives $4000 of equipment today and agrees to pay the supplier later

Debit Equipment Credit Accounts Payable

The business receives $700 of office materials today and will pay the supplier later

Debit Supplies Credit Accounts Payable

The business receives $1500 of products to resell and will pay the supplier later

Debit Inventory Credit Accounts Payable

The business pays $600 toward an amount it previously owed a supplier

Debit Accounts Payable Credit Cash

A bank gives the business $10000 and the business signs a written promise to repay it

Debit Cash Credit Notes Payable

A bank lends the company $25000 under a formal written borrowing agreement

Debit Cash Credit Notes Payable

The business repays $5000 of the principal on a formal bank borrowing

Debit Notes Payable Credit Cash

A customer gives the company $400 before any work has been performed

Debit Cash Credit Unearned Revenue

The company completes $400 of work for a customer who had already paid

Debit Unearned Revenue Credit Service Revenue

The company performs $800 of work and receives payment immediately

Debit Cash Credit Service Revenue

The company performs $1200 of work for a customer who will pay later

Debit Accounts Receivable Credit Service Revenue

A customer pays $900 that was owed from an earlier transaction

Debit Cash Credit Accounts Receivable

The company sells $1500 of merchandise and receives payment immediately

Debit Cash Credit Sales Revenue

The company sells $2000 of merchandise to a customer who will pay later

Debit Accounts Receivable Credit Sales Revenue

A customer sends $600 to settle an amount previously owed

Debit Cash Credit Accounts Receivable

The company pays $1000 for use of its building during the current month

Debit Rent Expense Credit Cash

The company pays employees $2200 for work they performed this month

Debit Wages Expense Credit Cash

The company pays a $350 electricity bill for the current month

Debit Utilities Expense Credit Cash

The company pays $500 to promote its products this month

Debit Advertising Expense Credit Cash

The company pays $300 for insurance coverage used during the current month

Debit Insurance Expense Credit Cash

At month end the company determines that $200 of its office materials were used

Debit Supplies Expense Credit Supplies

The owner takes $600 from the business for personal use

Debit Owner's Draw Credit Cash

A corporation distributes $1000 to its shareholders

Debit Dividends Credit Cash

Employees have earned $900 by month end but will not be paid until next month

Debit Wages Expense Credit Wages Payable

The company pays employees $900 that had been owed from the previous month

Debit Wages Payable Credit Cash

The company has incurred $250 of borrowing cost by month end but has not paid it yet

Debit Interest Expense Credit Interest Payable

The company pays $250 of borrowing cost that had been recorded previously

Debit Interest Payable Credit Cash

The company earns $180 from allowing another party to use its money and receives payment

Debit Cash Credit Interest Revenue

The company gives another business $5000 and receives a signed written promise of repayment

Debit Notes Receivable Credit Cash

Another business repays the $5000 principal it previously promised in writing to pay

Debit Cash Credit Notes Receivable

At year end the company records $700 of wear and usage on its equipment

Debit Depreciation Expense Credit Accumulated Depreciation

At year end the company records $1200 of wear and usage on its building

Debit Depreciation Expense Credit Accumulated Depreciation

The company estimates that $400 owed by customers will probably never be collected

Debit Bad Debt Expense Credit Allowance for Doubtful Accounts

The company determines that a customer's $250 balance will never be collected and removes it

Debit Allowance for Doubtful Accounts Credit Accounts Receivable

The company sells merchandise for $1000 cash that originally cost the company $600

Debit Cash and Cost of Goods Sold Credit Sales Revenue and Inventory

The company sells merchandise for $1500 to a customer who will pay later and the merchandise cost $900

Debit Accounts Receivable and Cost of Goods Sold Credit Sales Revenue and Inventory

Merchandise costing the company $450 is delivered to customers as part of completed sales

Debit Cost of Goods Sold Credit Inventory

The company purchases $1200 of goods that it plans to resell and pays immediately

Debit Inventory Credit Cash

The company sends back $300 of merchandise that it had purchased from a supplier and had not yet paid for

Debit Accounts Payable Credit Inventory

The company pays $750 for telephone service used during the current month

Debit Utilities Expense Credit Cash

The company receives a $500 electricity bill for this month that will be paid next month

Debit Utilities Expense Credit Accounts Payable

The company pays a $500 electricity bill that had been recorded as owed last month

Debit Accounts Payable Credit Cash

The company receives a $900 bill for advertising already performed and will pay later

Debit Advertising Expense Credit Accounts Payable

The company pays the $900 advertising amount that it previously owed

Debit Accounts Payable Credit Cash

The company purchases $3000 of equipment by paying $1000 now and agreeing to pay the rest later

Debit Equipment Credit Cash and Accounts Payable

The company purchases a $12000 machine by paying $2000 now and signing a formal promise for the rest

Debit Equipment Credit Cash and Notes Payable

The company receives $3000 today for work that will be performed next month

Debit Cash Credit Unearned Revenue

The company completes $1000 of work for customers who had paid in advance

Debit Unearned Revenue Credit Service Revenue

At month end $500 of insurance coverage that had been paid for earlier has now been used

Debit Insurance Expense Credit Prepaid Insurance

At month end $1000 of rent that had been paid in advance has now been used

Debit Rent Expense Credit Prepaid Rent

The company has completed $700 of work by month end but has not yet billed the customer

Debit Accounts Receivable Credit Service Revenue

The company receives the $700 that a customer owed for work completed earlier

Debit Cash Credit Accounts Receivable

The company performs $1300 of work and receives the money the same day

Debit Cash Credit Service Revenue

The company pays $450 for office materials that will be used in future months

Debit Supplies Credit Cash

The company determines that $150 of previously purchased office materials were used this month

Debit Supplies Expense Credit Supplies

The board announces an $800 distribution to shareholders that will be paid next month

Debit Dividends Credit Dividends Payable

The company pays shareholders the $800 distribution that had been announced previously

Debit Dividends Payable Credit Cash

The company receives $50000 from investors by issuing debt certificates with a $50000 face amount

Debit Cash Credit Bonds Payable

The company receives $100000 by issuing long term debt certificates with a face amount of $100000

Debit Cash Credit Bonds Payable

The company pays $2000 for the periodic borrowing cost on its long term debt certificates

Debit Interest Expense Credit Cash

At year end $1500 of borrowing cost has accumulated on long term debt but has not yet been paid

Debit Interest Expense Credit Interest Payable

The company pays $1500 of borrowing cost that had been recorded as owed at year end

Debit Interest Payable Credit Cash

The company receives $97000 for long term debt certificates that require repayment of $100000 at maturity

Debit Cash and Discount on Bonds Payable Credit Bonds Payable

The company receives $103000 for long term debt certificates that require repayment of $100000 at maturity

Debit Cash Credit Bonds Payable and Premium on Bonds Payable

The company pays $50000 to eliminate long term debt certificates with a face amount of $50000

Debit Bonds Payable Credit Cash

The company records periodic borrowing cost and increases the carrying amount of debt originally sold below face value

Debit Interest Expense Credit Discount on Bonds Payable and Cash

The company records periodic borrowing cost and decreases the extra amount received when debt was originally sold above face value

Debit Interest Expense and Premium on Bonds Payable Credit Cash

The company receives $6000 of equipment and signs a formal written promise to pay for it later

Debit Equipment Credit Notes Payable

The company receives $4000 from a lender after signing a formal written promise to repay it

Debit Cash Credit Notes Payable

The company pays $300 for the cost of borrowing money during the current period

Debit Interest Expense Credit Cash

At year end the company has incurred $450 of borrowing cost that will be paid later

Debit Interest Expense Credit Interest Payable

The company pays employees $1800 for work completed during the current period

Debit Salaries Expense Credit Cash

Employees have earned $1100 by period end but will not receive the money until next period

Debit Salaries Expense Credit Salaries Payable

The company pays employees $1100 that had been owed from the previous period

Debit Salaries Payable Credit Cash

The company completes $2500 of work for a customer and receives payment immediately

Debit Cash Credit Service Revenue

The company completes $3200 of work and sends the customer a bill to be paid later

Debit Accounts Receivable Credit Service Revenue

A customer pays the full $3200 amount it owed from an earlier bill

Debit Cash Credit Accounts Receivable

The company buys $1000 of office materials and pays immediately

Debit Supplies Credit Cash

The company receives $1000 of office materials today and agrees to pay the vendor later

Debit Supplies Credit Accounts Payable

The company pays $1500 today for insurance protection covering the next year

Debit Prepaid Insurance Credit Cash

The company pays $2400 today for use of a building during future months

Debit Prepaid Rent Credit Cash

The owner gives the business equipment worth $7000 instead of contributing money

Debit Equipment Credit Owner's Capital

An investor gives the corporation $9000 in exchange for ownership shares

Debit Cash Credit Common Stock

A customer gives the company $500 even though the company has not performed any work yet

Debit Cash Credit Unearned Revenue

The company finishes all work for a customer who previously gave it $500 in advance

Debit Unearned Revenue Credit Service Revenue

The company pays $275 for insurance protection that applies only to the current month

Debit Insurance Expense Credit Cash

The company pays $325 for promotion services used during the current month

Debit Advertising Expense Credit Cash

The company pays $425 for electricity and water used during the current month

Debit Utilities Expense Credit Cash

At period end the company determines that $550 of office materials have been consumed

Debit Supplies Expense Credit Supplies

A borrower gives the company $1200 toward principal owed under a signed written promise

Debit Cash Credit Notes Receivable

The company receives $600 of office materials from a vendor and agrees to pay next month

Debit Supplies Credit Accounts Payable