A list of accounts, with an identifying number for each, is provided. Following the list of accounts is a series of transactions entered into by a company during its first year of operations.
Required
For each transaction, indicate the account or accounts that should be debited and credited.
1. Cash
2. Accounts Receivable
3. Office Supplies
4. Buildings
5. Automobiles
6. Land
7. Accounts Payable
8. Income Taxes Payable
9. Notes Payable
10. Capital Stock
11. Retained Earnings
12. Service Revenue
13. Wage and Salaries Expense
14. Selling Expense
15. Utilities Expense
16. Income Tax Expense
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