Question 1

Received Cash from owner as an investment, $10000.00  (Which account is Debited?)

Accepted Answer

Cash

Answer

Lorie Blevins, Capital

Answer

Accounts Receivable, Lorie Blevins

Answer

Lorie Blevins, Drawing

Question 2

Paid Cash for Insurance, $200.00 (Which Account is Debited?)

Accepted Answer

Prepaid Insurance

Answer

Accounts Rec. Supplies Products

Answer

Lorie Blevins, Drawing

Answer

Cash

Question 3

Bought Supplies on Account from Superior Products, $1000 (Which account is debited?)

Accepted Answer

Supplies

Answer

Accounts Receivable, Superior Supplies

Answer

Prepaid Insurance

Answer

Cash

Question 4

Paid Cash for Supplies, $200 (Which Account is Debited?)

Accepted Answer

Supplies

Answer

Cash

Answer

Accounts Rec. Super Supplies

Answer

Lorie Blevins, Capital

Question 5

Paid Cash on account to Superior Supplies, $400 (Which account is debited?)

Accepted Answer

Accounts Pay-Superior Supplies

Answer

Lorie Blevins, Drawing

Answer

Accounts Rec- Paper Supplies

Answer

Cash

Question 6

Paid cash to owner for personal use, $500 (Which account is debited?)

Accepted Answer

Lorie Blevins, Drawing

Answer

Rent Expense

Answer

Cash

Answer

Lorie Blevins, Capital

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