The chart of accounts used by Quick Copy Company is listed below. You are to indicate the proper accounts to be debited and credited for the following transactions by writing the account number(s) in the appropriate columns. 
Definitions:
Average Total Cost
The total cost of production divided by the total quantity produced; a measure of per-unit production cost.
Economic Loss
A situation where the costs of producing a good or service exceed the revenue gained from selling it, resulting in financial loss.
Economic Loss
A situation where the total costs of a business or activity exceed the total revenues, indicating a negative financial performance.
Average Variable Cost
Average variable cost is the cost that varies with the level of output, divided by the quantity of output produced, essentially the variable cost per unit of output.
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