Listed below are numerous November 2024 transactions for Aun…
Listed below are numerous November 2024 transactions for Auntie Annie’s Accounting Academy Inc. (AAAA). Using the accounts provided, match the correct Debit account / Credit account for each transaction. Ignore dollar amounts in your answer. Instructions: For each transaction, select the appropriate Debit account / Credit account from the dropdown menus. Each account may be used more than once. Transactions: Purchased merchandise for $20,000 and paid cash. The company repaid a $10,000 loan owing to the bank. The company issued 10,000 common shares for $100,000. Sales on credit during the month were $100,000. The cost of the inventory that was sold to customers was $60,000. Supplies for $4,000 were purchased on credit. Several customers paid $18,000 in advance for goods that will be delivered in 2025. Paid $4,000 for the amount owing purchases on credit. Half of the $6,000 of supplies bought had been used up in the month. Received$50,000 owed from customers.