Match the Letter and the Blank in Each Transaction Description

question 85

Essay

Match the letter and the blank in each transaction description to complete the analysis.Not all terms will be used and some terms may be used more than once.
TRANSACTION
1.A company pays wages.This is recorded as a(n)________ to Cash and a(n)________ to Salaries and Wages Expense.
2.A company is paid for a job completed last month.This is recorded as a debit to ________ and a credit to ________.
3.A restaurant buys and immediately uses ingredients.This is recorded as a(n)________ to an expense account and a(n)________ to Cash.
4.A customer pays in advance for services to be performed during the next month.This is recorded as a ________ to Cash and a ________ to ________.
5.A company receives cash for a job that was completed during the current month.This is recorded as a debit to ________ and a credit to ________.
TERM
A.debit
B.credit
C.Accounts Payable
D.Accounts Receivable
E.Cash
F.Notes Payable
G.Service Revenue
H.Supplies
I.Unearned Revenue

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Definitions:

Deviate

To diverge or stray from a set path, standard, or expected norm.

Metric Twist Drills

Drill bits designed according to metric measurements, used for creating holes of specific diameters in various materials.

Preferred

Used to indicate a choice or option that is more desirable or is recommended over others.

Radial Locking Pins

Mechanical fasteners used to secure components together, which lock into place by fitting into a radial hole and preventing axial movement.