Which Accounts are Affected by these Transactions?

accounting studentQ: Which accounts are affected in each of the following transactions?


April 3 Purchased office supplies on account, $300.

April 4 Received prepayment for restoration services, $2,000.

April 15 Paid in full for office supplies purchased on April 3.

April 18 Billed customer for restoration work completed on April 17, $3,000.

April 29 Received utility bill for the month of April, due on May 15, $250.

A: April 3 Office supplies, creditors
April 4 Bank/cash, prepayment account (creditor)
April 15 Cash, creditors
April 18 Debtors, income (services rendered)
April 29 Utility bill (expense), creditors

Comments for Which Accounts are Affected by these Transactions?

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Eli
by: Anonymous

1. supplies dr 300
A/p cr 300

2 cash dr 2000
Unearned revenue 2000

3. A/p dr 300
cash cr 300

4 unearned revenue dr 2000
A/R dr 1000
sales/revenue 3000

5 April - utility exp dr 250
a/P. cr. 250
may - A/P dr. 250
Cash cr 250

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