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-   -   Analyze the following transaction (https://www.askmehelpdesk.com/showthread.php?t=292873)

  • Dec 16, 2008, 12:59 PM
    canddyland
    Analyze the following transaction
    A 5/8- paid telephone bill of $154.32 with cash (check 106)
    B 5/9 - paid $15.00 in cash for office cleaning (check 107)
    Account Classification increase decrease
    Debt ________ __________ _________ ____________
    Credit __________ __________ ___________ ____________
  • Dec 18, 2008, 07:12 AM
    pready

    A. Debit Phone Expense or Utility Expense for the amount. Increases an Expense account
    Credit Cash for the amount. Decreases an Asset account.

    B. Debit Cleaning Expense or similar account for the amount
    Credit cash for the amount

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