HVAC Service the Following Transactions Occurred During November

question 141

Multiple Choice

HVAC Service The following transactions occurred during November:
.
-Refer to HVAC Service.The journal entry to record payment for the office equipment and supplies will include a debit to

• A)Salary Expense
• B)Salaries Payable
• C)Prepaid Expenses
• D)Accounts Payable

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Definitions:

Account Type

A classification system used within accounting to differentiate between the various financial transactions, assets, liabilities, and owners' equity carried out or held by a business.

Increases

Refers to the growth or rise in numbers, values, quantities, or activities.

Decreases

A reduction in size, quantity, or level of something.

Equity Accounts

Accounts that represent the owner's or shareholders' interest in a company, reflecting the residual assets of the company after liabilities are deducted.