Accounting 4.01

The correct journal entry for the transaction PAID CASH FOR RENT is: debit Miscellaneous Expense? credit Cash. debit Rent Expense? credit Cash. ( debit Cash? credit Rent Expense. debit Cash? credit Utilities Expense.

debit Rent Expense? credit Cash.

The correct journal entry for the transaction PAID CASH FOR STORE EQUIPMENT is: debit Cash? credit Store Equipment. debit Store Supplies? credit Cash. debit Miscellaneous Expense? credit Store Equipment. debit Store Equipment? credit Cash.

debit Store Equipment? credit Cash

The correct journal entry for the transaction BOUGHT SUPPLIES ON ACCOUNT FROM JONES SUPPLY COMPANY is: debit Supplies and credit Cash. debit Accounts Payable/Jones Supply Company and credit Cash. debit Account Payable/Jones Supply Company and credit Supplies. debit Supplies and credit Accounts Payable/Jones Supply Company.

debit Supplies and credit Accounts Payable/Jones Supply Company

The correct journal entry for the transaction PAID CASH FOR PRINTER CARTRIDGES is: debit Owner's Drawing and credit Cash. debit Cash and credit Owner's Capital. debit Supplies and credit Cash. debit Miscellaneous Expense and credit Cash.

debit Supplies and credit Cash.

Pam's Publishing purchases supplies on account from Owen Office Supply for $350. The journal entry for Pam's Publishing to record this transaction is: debit Accounts Payable/Owen Office Supply, $350? credit Supplies, $350. debit Accounts Receivable/Owen Office Supply, $350? credit Supplies, $350. debit Supplies, $350? credit Accounts Payable/Owen Office Supply, $350. debit Supplies, $350? credit Accounts Receivable/Owen Office Supply, $350.

debit Supplies, $350? credit Accounts Payable/Owen Office Supply, $350.

Classic Cars, Inc. paid $500 cash for supplies from Wendy's Supplies. The journal entry for Classic Cars, Inc. to record this transaction is: debit Cash, $500? credit Supplies Expense, $500. debit Cash, $500? credit Supplies, $500. debit Supplies Expense, $500? credit Cash, $500. debit Supplies, $500? credit Cash, $500.

debit Supplies, $500? credit Cash, $500.

The transaction SOLD SERVICES ON ACCOUNT TO BETH PARKER would result in the journal entry: debit Accounts Receivable/Beth Parker and credit Cash. debit Accounts Receivable/Beth Parker and credit Sales. debit Cash and credit Accounts Receivable/Beth Parker. debit Cash and credit Sales.

debit Accounts Receivable/Beth Parker and credit Sales.

Fred's Furniture Store paid cash for advertising, $375. The journal entry to record this transaction is: debit Advertising, $375? credit Cash, $375. debit Advertising Expense, $375? credit Cash, $375. debit Cash, $375? credit Advertising, $375. debit Cash, $375? credit Advertising Expense, $375.

debit Advertising Expense, $375? credit Cash, $375.

Taco Home paid cash for advertising, $400. The journal entry to record this transaction is: debit Advertising, $400? credit Cash, $400. debit Advertising Expense, $400? credit Cash, $400. debit Cash, $400? credit Advertising, $400. debit Cash, $400? credit Advertising Expense, $400.

debit Advertising Expense, $400? credit Cash, $400.

The correct journal entry for the transaction RECEIVED CASH ON ACCOUNT FROM BILL'S LIMOS is: debit Accounts Receivable/Bill's Limos and credit Cash. debit Accounts Receivable/Bill's Limos and credit Jane Smith, Capital. debit Cash and credit Accounts Receivable/Bill's Limos. debit Cash and credit Jane Smith, Capital.

debit Cash and credit Accounts Receivable/Bill's Limos.

The correct journal entry for the transaction RECEIVED CASH ON ACCOUNT FROM BURKE SUPPLY is: debit Accounts Receivable/Burke Supply and credit Cash. debit Accounts Receivable/Burke Supply and credit Jane Smith, Capital. debit Cash and credit Accounts Receivable/Burke Supply. debit Cash and credit Jane Smith, Capital.

debit Cash and credit Accounts Receivable/Burke Supply.

The transaction RECEIVED A CHECK FOR LEGAL FEES would result in the journal entry: debit Cash and credit Legal Fees-Expense. debit Cash and credit Legal Fees-Revenue. debit Legal Fees-Expense and credit Cash. debit Miscellaneous Expense and credit Legal Fees-Revenue.

debit Cash and credit Legal Fees-Revenue.

The correct journal entry for the transaction RECEIVED A CHECK FOR BIKE RENTAL FEES is: debit Cash and credit Rental Fees. debit Miscellaneous Expense and credit Cash. debit Rental Fees and credit Cash. debit Rental Fees and credit Miscellaneous Expense.

debit Cash and credit Rental Fees.

Slick's Used Cars received $415 cash from Eddie Baker for payment on account. The journal entry for Slick's Used Cars to record this transaction is debit Cash, $415? credit Accounts Receivable/Eddie Baker, $415. debit Sales, $415? credit Accounts Receivable/Eddie Baker, $415. debit Accounts Receivable/Eddie Baker, $415? credit Cash, $415. debit Accounts Receivable/Eddie Baker, $415? credit Sales, $415.

debit Cash, $415? credit Accounts Receivable/Eddie Baker, $415.

Pesky Termite received $85 cash from Bad Wood Hotel for payment on account. The journal entry for Pesky Termite to record this transaction is: debit Accounts Receivable/Bad Wood Hotel, $85? credit Cash, $85. debit Cash, $85? credit Accounts Receivable/Bad Wood Hotel, $85. debit Cash, $85? credit Sales, $85 debit Sales, $85? credit Cash, $85.

debit Cash, $85? credit Accounts Receivable/Bad Wood Hotel, $85.

The correct journal entry for the transaction PAID CASH FOR POSTAGE (MISCELLANEOUS EXPENSE) is: debit Cash? credit Miscellaneous Expense. debit Cash? credit Supplies. debit Supplies? credit Cash. debit Miscellaneous Expense? credit Cash.

debit Miscellaneous Expense? credit Cash.

The correct journal entry for the transaction, PAID CASH FOR AN OFFICE DESK, is: debit Cash and credit Office Equipment. debit Cash and debit Office Equipment. debit Computer Supplies and credit Cash. debit Office Equipment and credit Cash.

debit Office Equipment and credit Cash.

Sunny Day Preschool purchases office supplies on account from Just Pens for $115. The journal entry for Sunny Day Preschool to record this transaction is: debit Accounts Payable/Just Pens, $115? credit Office Supplies, $115. debit Accounts Receivable/Just Pens, $115? credit Office Supplies, $115. debit Office Supplies, $115? credit Accounts Payable/Just Pens, $115. debit Office Supplies, $115? credit Accounts Receivable/Just Pens, $115.

debit Office Supplies, $115? credit Accounts Payable/Just Pens, $115.

Free Time Fishing paid $600 cash for supplies from Go Office Supply. The journal entry for Free Time Fishing to record this transaction is: debit Cash, $600? credit Supplies Expense, $600. debit Cash, $600? credit Supplies, $600. debit Supplies Expense, $600? credit Cash, $600. debit Supplies, $600? credit Cash, $600.

debit Supplies, $600? credit Cash, $600

24. The correct journal entry for the transaction PAID THE TELEPHONE BILL is: debit Equipment and credit Cash. debit Telephone Expense and credit Cash. debit Cash and credit Equipment. debit Cash and credit Telephone Expense.

debit Telephone Expense and credit Cash.

Christina's Curtains paid cash for the telephone bill, $110. The journal entry to record this transaction is: debit Purchases, $110? credit Cash, $110. debit Telephone Expense, $110? credit Cash, $110. debit Cash, $110? credit Purchases, $110. debit Cash, $110? credit Telephone Expense, $110.

debit Telephone Expense, $110? credit Cash, $110. (

Aquisha's Bookkeeping paid cash for the telephone bill, $134. The journal entry to record this transaction is: debit Purchases, $134? credit Cash, $134. debit Telephone Expense, $134? credit Cash, $134. debit Cash, $134? credit Purchases, $134. debit Cash, $134? credit Telephone Expense, $134.

debit Telephone Expense, $134? credit Cash, $134.

The Pool Palace paid cash for the telephone bill, $225. The journal entry to record this transaction is: debit Purchases, $225? credit Cash, $225. debit Telephone Expense, $225? credit Cash, $225. debit Cash, $225? credit Purchases, $225. debit Cash, $225? credit Telephone Expense, $225.

debit Telephone Expense, $225? credit Cash, $225.

Bill James discovered that a transaction for Utilities Expense was journalized and posted in error as a debit to Repair Expense, $250. The entry to correct the error is: debit Cash, $250? debit Utilities Expense, $250. debit Utilities Expense, $250? credit Cash, $250. debit Utilities Expense, $250? credit Repairs Expense, $250. debit Repair Expense, $250? credit Utilities Expense, $250.

debit Utilities Expense, $250? credit Repairs Expense, $250.