9 6 Mastery Problem Answers

Question: Paid cash for rent

Answer: - cash

-capital (expense)

Question: Removed cash from owner as an investment

Answer: +cash

  • capital (investment)

  • Question: Paid cash for telephone bill

  • Answer: -cash

  • -capital (expense)

  • Question: Received cash from sales

  • Answer: +cash

  • +capital (revenue)

  • Question: Bought supplies on account from Delta Company

  • Answer: +supplies

  • +delta co.

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