11 a business pays 500 cash for supplies which account is debited a cash b accounts 4311562

11) A business pays $500 cash for supplies. Which account is debited?

A) Cash

B) Accounts payable

C) Supplies

D) Service revenue

12) A business pays $500 cash for supplies. Which account is credited?

A) Cash

B) Accounts payable

C) Supplies

D) Service revenue

13) A business buys $500 of supplies on account. Which account is debited?

A) Cash

B) Accounts payable

C) Supplies

D) Service revenue

14) A business buys $500 of supplies on account. Which account is credited?

A) Cash

B) Accounts payable

C) Supplies

D) Service revenue

15) A business makes a cash payment to a supplier “on account” (for supplies which were purchased earlier.) Which account is debited?

A) Cash

B) Accounts payable

C) Supplies

D) Service revenue

16) A business makes a cash payment to a supplier “on account” (for supplies which were purchased earlier.) Which account is credited?

A) Cash

B) Accounts payable

C) Supplies

D) Service revenue

17) A business collects cash from a customer in payment of accounts receivable. Which account is debited?

A) Cash

B) Accounts receivable

C) Service revenue

D) Supplies

18) A business collects cash from a customer in payment of accounts receivable. Which account is credited?

A) Cash

B) Accounts receivable

C) Service revenue

D) Supplies

19) A business borrows cash by signing a note payable. Which account is debited?

A) Notes payable

B) Accounts payable

C) Accounts receivable

D) Cash

20) A business borrows cash by signing a note payable. Which account is credited?

A) Notes payable

B) Accounts payable

C) Accounts receivable

D) Cash

1