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

question 98

Multiple Choice

Indicate the account(s) to be debited and credited to record the following transactions.
-The business provided services on credit.
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:

Patient Liability

The portion of healthcare costs that a patient is personally responsible for, including copayments, deductibles, and any services not covered by insurance.

Paid

Receiving money or compensation in exchange for services rendered or as an employee.

Medicaid Patients

Individuals receiving health care coverage through the Medicaid program, a joint federal and state program that helps with medical costs for some people with limited income and resources.

Physician

A healthcare professional who is trained and licensed to practice medicine, including diagnosing illnesses and prescribing treatments.