Debits and Credits Study Appendix 15B. Determine for the following transactions whether the account named in parentheses is to be debited or credited: 1. Sold merchandise (Merchandise Inventory), $1,000 2. Received cash from customers on accounts due (Accounts Receivable), $2,450 3. Paid rent in advance (Prepaid Expenses), $1,250 4. Borrowed money from First National Bank (Notes Payable), $12,000 5. Paid dividends (Cash), $800 6. Delivered merchandise to customers (Merchandise Inventory), $3,500 7. Paid O'Brien Associates $3,000 owed them (Accounts Payable) 8. Bought merchandise on open account (Accounts Payable), $5,400
+1
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Debits and Credits Study Appendix 15B. Determine for the following transactions whether the account named in parentheses is to be debited ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Home » Business » Debits and Credits Study Appendix 15B. Determine for the following transactions whether the account named in parentheses is to be debited or credited: 1. Sold merchandise (Merchandise Inventory), $1,000 2.