Prepare Journal Entries

"The owner invested cash BD100 in the business" Cr. side for this transaction is

• Capital

• Revenue

• Drawings

• Non of the answers

"Performed service BD60, and received BD20". Dr side of this transaction in journal entries is

• Dr. Cash 20 and Dr. Account Receivable 40

• Dr. Account Receivable 40 only

• Dr. Account payable 40

• Dr. Cash only

"Company purchased equipment for BD3000 cash" what is the Dr side for this transaction?

• Equipment

• Cash

• Capital

• Asset

"The Company paid cash BD20 to creditor". It recorded in the general journal

• Dr. Account payable 20 , Cr. Cash 20

• Dr. Cash 20, Cr. Account payable 20

• Dr. Account Receivable 20, Cr. Cash 20

• Dr. Cash 20, Cr. Account receivable 20

"Company received cash BD4,000 from customer, which was on account ". It recorded in the general journal

• Dr. Cash 4000, Cr. Account Receivable 4000

• Dr. Account Receivable 4000, Cr. Cash 4000

• Dr. Account payable 4000, Cr. Cash 4000

• None

Cr. side in journal entry is

• Liability, Revenues, and Capital

• Liability, Revenues, and Drawings

• Assets, Revenues, and Capital

• Liability, Expenses, and Capital

Normal Balance of Prepaid Insurance is

• Dr. & Cr.

• Cr. side

• Dr. side

• None of the answers

Decrease in account receivable

Account receivable will be recorded in ........... of the journal entry

• Cr. side

• Dr. side

• Dr. & Cr.

• None of the answers