4.01 & 4.02 Review

The correct journal entry for the transaction PAID CASH FOR PRINTER CARTRIDGES is:

• debit Owner's Drawing and credit Cash.

• debit Cash and credit Owner's Capital.

• debit Supplies and credit Cash.

• debit Miscellaneous Expense and credit Cash.

Taco Home paid cash for advertising, $400. The journal entry to record this transaction is:

• debit Advertising, $400; credit Cash, $400.

• debit Advertising Expense, $400; credit Cash, $400.

• debit Cash, $400; credit Advertising, $400.

• debit Cash, $400; credit Advertising Expense, $400.

The correct journal entry for the transaction RECEIVED A CHECK FOR BIKE RENTAL FEES is:

• debit Cash and credit Rental Fees.

• debit Miscellaneous Expense and credit Cash.

• debit Rental Fees and credit Cash.

• debit Rental Fees and credit Miscellaneous Expense.

The correct journal entry for the transaction PAID CASH FOR RENT is:

• debit Miscellaneous Expense; credit Cash.

• debit Rent Expense; credit Cash.

• debit Cash; credit Rent Expense.

• debit Cash; credit Utilities Expense.

The transaction SOLD SERVICES ON ACCOUNT TO BETH PARKER would result in the journal entry:

• debit Accounts Receivable/Beth Parker and credit Cash.

• debit Accounts Receivable/Beth Parker and credit Sales.

• debit Cash and credit Accounts Receivable/Beth Parker.

• debit Cash and credit Sales.

Pesky Termite received $85 cash from Bad Wood Hotel for payment on account. The journal entry for Pesky Termite to record this transaction is:

• debit Accounts Receivable/Bad Wood Hotel, $85; credit Cash, $85.

• debit Cash, $85; credit Accounts Receivable/Bad Wood Hotel, $85.

• debit Cash, $85; credit Sales, $85.

• debit Sales, $85; credit Cash, $85.

Aquisha's Bookkeeping paid cash for the telephone bill, $134. The journal entry to record this transaction is:

• debit Purchases, $134; credit Cash, $134.

• debit Telephone Expense, $134; credit Cash, $134.

• debit Cash, $134; credit Purchases, $134.

• debit Cash, $134; credit Telephone Expense, $134.

Jones's Hardware paid $750 cash for supplies from Miner's Supply. The journal entry for Jones's Hardware to record this transaction is:

• debit Cash, $750; credit Purchases, $750.

• debit Cash, $750; credit Supplies, $750.

• debit Purchases, $750; credit Cash, $750.

• debit Supplies, $750; credit Cash, $750.

Digital Electronics paid $189 cash for supplies from We Deliver Supplies. The journal entry for Digital Electronics to record this transaction is:

• debit Cash, $189; credit Supplies Expense, $189.

• debit Cash, $189; credit Supplies, $189.

• debit Supplies Expense, $189; credit Cash, $189.

• debit Supplies, $189; credit Cash, $189.

Fast Freddy Furniture received $175 cash from Wayne Sweeny for payment on account. The journal entry for Fast Freddy Furniture to record this transaction is:

• debit Cash, $175; credit Sales, $175.

• debit Sales, $175; credit Cash, $175.

• debit Cash, $175; credit Accounts Receivable/Wayne Sweeny, $175.

• debit Accounts Receivable/Wayne Sweeny, $175; credit Cash, $175.