Brief Exercise 162 7] Your answer is partially correct. Try again. Credit For ea

Question

Brief Exercise 162 7] Your answer is partially correct. Try again. Credit For each of the following transactions of Neon Garden, identify the account to be debited and the account to be credited. Credit Credit Transactions Debit Credit 1. Purchased 18-month insurance policy for cash.Prepaid Insurance 2. Paid weekly payroll. 3. Purchased supplies on account. 4. Received utility bill to be paid at later date Selaries and Wages Expense Prepaid Insurance Supplies Utilities Expense Cash Accounts Payable Utilities Expense Accounts Payable Accounts Payable Cash Utilities Expense Prepaid Insurance salaries and wages Expense ? Utilitics Expensc Accounts Payable Prepaid Insurance Salaries and Weges Expense Supplies Salaries and USlities Expense Utilities Expense Accounts Payable Supplies Debit Debit Prepaid Insurance h Prepaid Insurance Salaries and wages Expense ? Salaries and Wages Expense Accounts Payable Prepaid Insurance Utilities Expense Cash Salaries and Wages Expense Supplies Cash Supplies ar Prepaid Insurance Utilities Expense Salaries and Woges Expense

Explanation / Answer

Debit Credit 1 Prepaid insurance Cash 2 Salaries and wages expense Cash 3 Supplies Accounts Payable 4 Utilities expense Accounts Payable

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