Credit Account Payable (current liability).
Question
DB | CR | |
a. Debit Cleaning and Office Supplies Expense (income statement) |
114 | |
Credit Account Payable (current liability) |
114 | |
to record amounts owing at year-end for cleaning and office supplies |
||
Debit Cleaning and Office Supplies Inventory (current asset) |
382 | |
Credit Cleaning and Office Supplies Expense (income statement) |
382 | |
to reclassify cleaning and office supplies on hand at year-end |
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b. Debit Account Receivable (current asset) | 11621 | |
Credit Owner Equity |
11621 | |
to record amounts still owing from customers at the end of the year |
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c. Debit Inventory (current asset) | 6210 | |
Credit Raw Goods (expense) |
6210 | |
to record raw goods that are still on hand at the end of the year |