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40 terms

Debits & Credits

STUDY
PLAY
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 _________