For Each Transaction Provided, Choose the Appropriate Account from the List

question 146

Multiple Choice

For each transaction provided, choose the appropriate account from the list that would receive a debit entry as a result of the transaction. (Choices may be used more than once.)
-receiving cash from a customer in advance of providing any services

• A)Cash
• B)Accounts Receivable
• C)Supplies
• D)Prepaid Insurance
• E)Land
• F)Equipment
• G)Accounts Payable
• H)Unearned Revenues
• I)Notes Payable
• J)Common Shares
• K)Retained Earnings
• L)Service Revenue
• M)Salary Expense
• N)Insurance Expense
• O)Utilities Expense
• P)Dividends

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Definitions:

Court Proceedings

Court proceedings are formal legal processes where disputes are resolved and judgments are made by a court.

Courts Open

This term suggests the status of courtrooms being accessible for legal proceedings, ensuring public accessibility and transparency in the judicial process.

Federal Court

A court established under federal law that has jurisdiction over certain cases involving national laws, federal government, and disputes between states or international parties.

Function

The natural purpose or action for which a person or thing is designed or exists.