Debits & Credits

Created by gracebrady 

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debit

Increase cash

debit

Increase expenses

credit

Increase revenue

debit

Increase accounts receivable

credit

Increase accounts payable

debit

Increase withdrawals by owner

debit

Decrease owner's equity

credit

Decrease accounts receivable

debit

Decrease accounts payable

debit

Paid utilities bill: ________ utilities expense

credit

Received cash for services performed: _______ revenue

credit

Wrote a check:________ cash in bank

debit

Bought a computer on account:________ computer equipment

debit

Received cash for services performed: ______ cash in bank

credit

Wrote a check to the owner: ______ cash in bank

credit

Owner invested $30,000 to start the business: _______ capital

debit

Wrote a check for office supplies:________ office supplies

debit

Bought office supplies on account: ________ office supples

credit

Bought a computer on account:_________ accounts payable

debit

Paid weekly salaries: _________ salary expense

credit

Paid bank service charge: ________ cash in bank

credit

Wrote check #4231 for October rent: _______ cash in bank

debit

Billed a customer for services performed last week: __________ accounts receivable

debit

Received payment for services on account: ________ accounts payable

credit

Received a check for services performed today: _______ revenue

utilities expense

Paid electric bill: debit ________

accounts receivable

Received a check for services billed last month: credit _________

withdrawals

Wrote a check to the owner for their vacation: debit ________

accounts receivable

Received check #6357 for services performed and billed last month: credit _________

cash in bank

Paid for office supplies bought 2 months ago: credit _________

accounts payable

Bought 10 reams of paper on account: credit _________

cash in bank

Wrote a check for an oil change on the delivery van: credit ________

withdrawals

Gave $200 cash to the owner: debit ________

revenue

Received $798 for work performed today: credit __________

salaries expense

Wrote check for $1,890 for this week's wages: debit ________

cash in bank

Received check for $123.56 for returned copier cartridge: debit ________

accounts payable

Paid bill for new cash register purchased 2 months ago: debit _________

capital

The owner brought a couch from home for use in the staff lunch room: credit ________

cash in bank

Journalized entry to fix accidental credit to cash in bank: debit ________

cash in bank

Check received from a customer bounced at the bank: credit _________

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