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:

Shopkeeper's Statute

refers to laws that give retail merchants or their employees the authority to detain suspected shoplifters under certain conditions.

Trespass to Land

An unauthorized physical intrusion onto someone else's property.

Unauthorized

Actions or accesses that are not permitted or approved by the rightful owner or authority.

Intrusion

A violation of someone's space or privacy without their consent.