Given the Following Accounts

question 81

Short Answer

Given the following accounts:
[1] Cash
[2] Notes receivable
[3] Accounts receivable
[4] Interest receivable
[5] Notes payable
[6] Accounts payable
[7] Interest payable
[8] Discount on notes payable
[9] Interest expense
[10] Interest income
[11] Sales
Indicate the account(s) to be debited and credited to record the following transactions.
-Sold merchandise on account.
Debit ________ & ________ Credit ________ & ________

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Definitions:

Capital Intensive

Industries or processes that require large amounts of capital investment in heavy machinery or equipment rather than labor.

Alternative Technologies

Refers to various options available for achieving a similar goal, especially in the context of energy sources, manufacturing processes, or digital solutions.

Labor Costs

The total expense incurred by employers for the wages, benefits, and taxes associated with the workforce.

Capital-Intensive

A production process that requires a higher ratio of capital (machinery, equipment) to labor.