Normal Balances of Accounts Identify each of the following accounts of Dispatch Services Co. as asset, liability, owner's equity, revenue, or expense, and state in each case whether the normal balance is a debit or a credit: Item Type of Account Debit or Credit a.  Accounts Payable     b.  Accounts Receivable     c.  Ashley Griffin, Capital     d.  Ashley Griffin, Drawing     e.  Cash     f.  Fees Earned     g.  Office Equipment     h.  Rent Expense     i.  Supplies     j.  Wages Expense

Under the accrual basis of accounting - if cash has been received before the revenue has been earned, which of the following journal entries should be recorded?   A)  Debit Cash,         Credit Unearned Revenue.   B) Debit Cash,         Credit Sales Revenue.   C) Debit Unearned Revenue,          Credit Cash.   D) Debit Cash,           Credit Accounts Receivable.

Recording cost of goods sold is a/an A. cash entry B. deferral entry C. accrual entry D. adjusting entry E. paid bill entry

Which of the following entries records receiving the cash payment from a customer for previous services performed on account. (AP = Accounts Payable, AR = Accounts Receivable)

The purchase of supplies on account     is debited to supplies and credited to account receivable. Is this statement correct

The journal entry to record the sale of services on credit should include: a debit to Cash and a credit to Accounts Receivable. a debit to Accounts Receivable and a credit to Capital. a debit to Fees Income and a credit to Accounts Receivable. a debit to Accounts Receivable and a credit to Fees Income.