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General Accounting Discussions: Analyzing Transactions

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    • CommentAuthorarette46
    • CommentTimeFeb 13th 2010
     
    I need to know how to figure this out: Selected assounts from the general ledger of the Express Courier Service follows. Analyze the following transaction and indicated by number what accounts be debited and credited for each transaction.
    101 Cash
    111 Accounts Receivable
    121 Supplies
    131 Equipment
    202 Accounts Payable
    301 Sam's Taylor, Capital
    401 Fees Income
    511 Rent Expense
    514 Salaries Expense
    517 Utilities Expense

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