Indicate the Account(s) to Be Debited and Credited to Record

question 110

Multiple Choice

Indicate the account(s) to be debited and credited to record the following transactions.
-During liquidation realized less than book value for the store equipment.
Debit ________ & ________ & ________ Credit ________

• A)Cash
• B)Accounts receivable
• C)Allowance for doubtful accounts
• D)Merchandise inventory
• E)Store supplies
• F)Store equipment
• G)Accumulated depreciation
• H)Notes payable
• I)Accounts payable
• J)John Partner's, Capital
• K)Joy Partner's, Capital
• L)John Partner's, withdrawals
• M)Joy Partner's, withdrawals
• N)Income summary
• O)Service revenue
• P)Gain on realization
• Q)Loss on realization

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Definitions:

Visualizing

The act or process of forming mental images or concepts of what is not actually present to the senses.

Imagining Consequences

The mental process of envisioning the outcomes of actions or behaviors before they are carried out.

Reinforcement

In behaviorism, it is a consequence applied that strengthens an organism's future behavior whenever that behavior is preceded by a specific antecedent stimulus.

Internal Representational Systems

The mental mechanisms by which individuals organize, interpret, and store information about the world around them.