Collected $300 from customers on account. Which of the following accounts would be credited to record this transaction?

If the total of the figures on the debit side of a T-account is greater than the total on the credit side, the balance is recorded on the debit side.

Made partial payment of $1,000 of the amount owed for supplies. Which of the following accounts would be credited to record this transaction?

Made partial payment of $1,000 of the amount owed for supplies. Which of the following accounts would be debited to record this transaction?

A special type of owner’s equity account set up to record the owner’s withdrawal of cash or other assets from the business is known as

Written records of the assets, liabilities, and owner’s equity of a business is known as

Issued check to pay for advertising expense, $50. Which of the following accounts would be debited to record this transaction?

Purchased equipment for $1,000 cash. Which of the following accounts would be credited to record this transaction?

After transactions for the period have been recorded, a trial balance is prepared to verify the equality of total debits and credits.

Debits are used to record