(Solved) Below is a chart of accounts. Following is a series of transactions. Indicate for each transaction ...

Below is a chart of accounts. Following is a series of transactions. Indicate for each transaction the accounts that should be debited and credited by inserting the proper account number in the space provided.

111 Cash   312 R. Andrews, Withdrawals
112 Accounts Receivable   411 Service Fees Earned
121 Office Equipment   511 Salaries Expense
211 Accounts Payable   512 Rent Expense
311 R. Andrews, Capital   513 Advertising Expense

Debit   Credit   Transaction
________   ________    1. Purchased office equipment with cash.
________   ________    2. Paid salaries for the week.
________   ________    3. Invested additional cash in the business.
________   ________    4. Received cash on account.
________   ________    5. Billed a client on account for services performed.
________   ________    6. Paid accounts payable.
________   ________    7. Collected accounts receivable.
________   ________    8. Withdrew cash for personal use.
________   ________    9. Paid advertising expense.
________   ________    10. Paid rent expense for the month.

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Below is a chart of accounts. Following is a series of transactions. Indicate for each transaction ...

College Accounting: A Practical Approach

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