ACC221

ACC221 - Miami University - Exam One questions with correct answers Last document update:   ago

Recording the Borrowing of Money from the Bank Answer Debit Cash with Amount Borrowed Credit Note Payable with Amount Borrowed Recording the sale of common stock Answer Debit Cash with amount issued Credit Common Stock with amount issued Record the purchase of equipment Answer Credit Cash with amount paid Debit equipment with amount purchased Record the purchase of supplies on credit Answer Debit supplies with amount purchased Credit Accounts Payable with amount purchased Recor...