Question

For each of the following transactions, select the account to be debited and the account to be credited in the general journal.

a. Invested cash in the business, $5,000.
b. Paid office rent, $500.
c. Purchased office supplies on account, $300.
d. Received cash for services rendered (fees), $400.
e. Paid cash on account, $50.
f. Rendered services on account, $300.
g. Received cash for an amount owed by a customer, $100.

Answer 1

a. Dr Cash

Cr Capital

b. Dr Cash

Cr Rent

c. Dr Office supplies

Cr Accounts Payable

d. Dr Cash

Cr Accounts Receiveble

e. Dr Cash

Cr Accounts Receiveble

f. Dr Accounts Receiveble

Cr Services

g. Dr Cash

Cr Accounts Receiveble

Step-by-step explanation:

Based on the information given the account to be debited and the account to be credited in the general journal will be:

a. Dr Cash

Cr Capital

b. Dr Cash

Cr Rent

c. Dr Office supplies

Cr Accounts Payable

d. Dr Cash

Cr Accounts Receiveble

e. Dr Cash

Cr Accounts Receiveble

f. Dr Accounts Receiveble

Cr Services

g. Dr Cash

Cr Accounts Receiveble