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10 Cards in this Set
- Front
- Back
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Pay cash for supplies |
Debit--Supplies Credit--Cash |
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Buy supplies on account |
Debit--Supplies Credit--Accounts Payable-Company Name |
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Pay cash on account |
Debit--Accts. Payable-Company Name Credit--Cash |
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Pay cash for insurance |
Debit--Prepaid Insurance Credit--Cash |
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Pay cash for an expense |
Debit--Expense Acct. Credit--Cash |
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Owner withdraws cash for personal use |
Debit--Owner's Drawing Acct. Credit--Cash |
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Receive cash from selling services |
Debit--Cash Credit--Sales |
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Sell services on account (they agree to pay at a later date) |
Debit--Accts. Receivable--Customer's Name Credit--Sales |
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Receive cash on account (from a charge customer) |
Debit--Cash Credit--Accts. Receivable--Customer's Name |
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Receive cash as an additional investment |
Debit--Cash Credit--Owner's Capital Acct. |
