Complete the Following Entries by Using a "Debit" or "Credit

question 80

Short Answer

Complete the following entries by using a "debit" or "credit."
a) Received payment from a customer. Cash would have a: ________
b) Owner makes an investment of equipment. Capital would have a: ________
c) Paid rent in advance. Prepaid Rent would have a: ________
d) Billed a customer for services rendered. Revenue would have a: ________
e) Paid an advertising bill received last month. Cash would have a: ________
f) Owner withdrew cash. Withdrawals would have a: ________

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Definitions:

Labor Unions

Organizations formed by workers from related fields that work for the betterment of their members' employment conditions.

Proprietors' Income

Earnings received by owners of unincorporated businesses from their business activities.

Total Income

The combined earnings from wages, investments, and other sources before any deductions are made.

Wages & Salaries

Payments made to employees for their labor or services, typically on an hourly or annual basis.