Given the Following Accounts

question 112

Short Answer

Given the following accounts:
[1]Cash in bank
[2]Petty cash
[3]Supplies
[4]Equipment
[5]Notes payable
[6]Vouchers payable
[7]FICA payable
[8]Wages payable
[9]Purchases
[10]Purchase discounts
[11]Discounts lost
[12]Repairs exp
[13]Interest expense
[14]Delivery expense
Indicate the account(s) to be debited and credited to record the following transactions.
-Prepared voucher #425 for a note payable.The principle amounts to $2,500 and there is $100 of interest which has not been accrued.
Debit ________ & ________ & ________ Credit ________ & ________ & ________

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Definitions:

Investment Bankers

Financial professionals who assist corporations and governments in raising capital by underwriting and issuing securities and advising on mergers and acquisitions.

Financial Intermediation

The process by which financial institutions act as intermediaries between lenders and borrowers.

Institutional Investor

A business organization that buys and sells securities. Generally, a fund of some kind such as a mutual fund or a pension fund that invests the pooled money of its clients.

Pension Funds

Investment pools that collect and invest funds contributed by sponsors and beneficiaries to provide future pension benefits.