Paid $4000 for supplies with cash.
Is the cash account being debited or credited?

Took a loan from the bank for $2000.
Is the Bank Loan account being debited or credited?

Paid $3000 for rent expense for the month.
Is the rent expense account being debited or credited?

If you're increasing an asset account, is it being debited or credited?

When decreasing the drawings account, is it being debited or credited?

Paid $4000 for supplies with cash.
Is the supplies account being debited or credited?

A $30,000 6-month 5% note payable was issued November 1. Interest is payable at maturity. Record the interest that has accrued by December 31.
Is the notes payable account being debited or credited?

Performed services for cash and credit.
Is the service revenue account being debited or credited?

If you're decreasing a liability account, is it being debited or credited

Should the debits and credits for a singular account always equal each other?

Paid $1700 on a one-year insurance policy
Is the prepaid insurance account being debited or credited?

A customer prepaid for service in March of 2021. December 2021 the service was finally delivered.
Is the unearned revenue account being debited or credited?

The owner withdrew $800 for personal use.
Is the drawings account being debited or credited?

If you're increasing the capital account, is it being debited or credited?

What tool do we use to calculate our debits and credits?

Sold Truck for $10,000.
Is the truck account being credited or debited?

a. A company has four office employees who each earn $100 per day for a five-day workweek that ends on Friday. The employees are paid every Friday. The last payday of the year is Friday, December 26. The office employees worked on Monday, Tuesday, Wednesday, and Friday (December 29, 30, and 31 and again on January 2). Prepare the journal entries that would be required on December 31 and January 2 to record the accrual and salary expenses respectively.
Is the unearned rent revenue account being debited or credited?

The owner invested $5000 cash into the business.
Is the capital account being debited or credited?

If you're increasing a revenue account, is it being debited or credited?

Should the total debits and credits always equal each other?

Equipment worth 25,000, with a salvage value of 5000 and a useful life of 9 years, needs to be depreciated for the year.
Is the accumulated depreciation account being debited or credited?

A company has four office employees who each earn $100 per day for a five-day workweek that ends on Friday. The employees are paid every Friday. The last payday of the year is Friday, December 26. The office employees worked on Monday, Tuesday, Wednesday, and Friday (December 29, 30, and 31 and again on January 2). Prepare the journal entries that would be required on December 31 and January 2 to record the accrual and salary expense respectively.
Is the accrued salaries payable account being debited or credited?

Equipment worth 25,000, with a salvage value of 5000 and a useful life of 9 years, need to be depreciated for the year
Is the depreciation expense account being debited or credited?

If you're decreasing an expense account, is it being debited or credited?

Which side do the debits for an account go on in a T account?