For each of the following transactions for the Brazos Co., indicate the account that is...

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Accounting

For each of the following transactions for the Brazos Co., indicate the account that is debited and which is credited on the transaction date.

  • Brazos provides a service to a customer on April 12, with the customer paying cash at that time.
  • Brazos purchases an insurance policy on June 24. The policy covers July 1 through September 30.
  • Brazos purchases equipment, receiving it on October 15. The company signs a note payable, with the first installment due on November 15.
  • Brazos sells 600 units of inventory on November 3. The price per unit is $6, and the cost per unit is $3.50.
  • On April 30, Brazos pays employees $700 for wages earned during the month of April.
- A. B. C. D. E. F. G. H.

Brazos provides a service to a customer on April 12, with the customer paying cash at that time. Debit:

- A. B. C. D. E. F. G. H.

Brazos provides a service to a customer on April 12, with the customer paying cash at that time. Credit:

- A. B. C. D. E. F. G. H.

Brazos purchases an insurance policy on June 24. The policy covers July 1 through September 30. Debit:

- A. B. C. D. E. F. G. H.

Brazos purchases an insurance policy on June 24. The policy covers July 1 through September 30. Credit:

- A. B. C. D. E. F. G. H.

Brazos purchases equipment, receiving it on October 15. The company signs a note allowing payment in three installments, with the first installment taking place on November 15.Debit:

- A. B. C. D. E. F. G. H.

Brazos purchases equipment, receiving it on October 15. The company signs a note allowing payment in three installments, with the first installment taking place on November 15. Credit:

- A. B. C. D. E. F. G. H.

Brazos sells 600 units of inventory for cash on November 3. The price per unit is $6, and the cost per unit is $3.50. For the revenue portion of the transaction, Debit:

- A. B. C. D. E. F. G. H.

Brazos sells 600 units of inventory for cash on November 3. The price per unit is $6, and the cost per unit is $3.50. For the revenue portion of the transaction, Credit:

- A. B. C. D. E. F. G. H.

Brazos sells 600 units of inventory for cash on November 3. The price per unit is $6, and the cost per unit is $3.50. For the expense portion of the transaction, Debit:

- A. B. C. D. E. F. G. H.

Brazos sells 600 units of inventory for cash on November 3. The price per unit is $6, and the cost per unit is $3.50. For the expense portion of the transaction, Credit:

- A. B. C. D. E. F. G. H.

On April 30, Brazos pays employees $700 for wages earned during the month of April. Debit:

- A. B. C. D. E. F. G. H.

On April 30, Brazos pays employees $700 for wages earned during the month of April. Credit:

A.

Inventory

B.

Cost of goods sold

C.

Equipment

D.

Note payable

E.

Cash.

F.

Revenue

G.

Prepaid insurance

H.

Wage expense

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