Question
Asked Jan 8, 2020
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Name the accounts debited and credited for each of the
following transactions.
(a) Billing a customer for work done.
(b) Receipt of cash from customer on account.
(c) Purchase of office supplies on account.
(d) Purchase of 15 gallons of gasoline for the delivery
truck.

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Expert Answer

Step 1

Rules of debit and credit:

An increase in an asset account, an increase in an expense account, a decrease in liability account and decrease in a revenue account should be debited.

An ...

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Financial Accounting

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