Accounting Journal Entries - Chapters 1 - 9
& 11 Exam & Study Guide | Questions and
Answers | 2026/2027
Chapter 2
Owner contribution of cash for equity - correct answer-Debit Cash
Credit Owner, Capital
Chapter 2
Paid cash for land - correct answer-Debit Land
Credit Cash
Chapter 2
Purchased office supplies on account - correct answer-Debit Office Supplies
,Credit Accounts Payable
Chapter 2
Received cash for services performed - correct answer-Debit Cash
Credit Service Revenue
Chapter 2
Performed services on credit - correct answer-Debit Accounts Receivable
Credit Service Revenue
Chapter 2
Paid cash for expenses - correct answer-Debit each expense account
Credit Cash
Chapter 2
Paid cash on account - correct answer-Debit Accounts Payable
, Credit Cash
Chapter 2
Received cash on account - correct answer-Debit Cash
Credit Accounts Receivable
Chapter 2
Owner withdrawals of cash - correct answer-Debit Owner, Withdrawals
Credit Cash
Chapter 2
Paid rent in advance - correct answer-Debit Prepaid Rent
Credit Cash
Chapter 2
Paid salaries - correct answer-Debit Salaries Expense
& 11 Exam & Study Guide | Questions and
Answers | 2026/2027
Chapter 2
Owner contribution of cash for equity - correct answer-Debit Cash
Credit Owner, Capital
Chapter 2
Paid cash for land - correct answer-Debit Land
Credit Cash
Chapter 2
Purchased office supplies on account - correct answer-Debit Office Supplies
,Credit Accounts Payable
Chapter 2
Received cash for services performed - correct answer-Debit Cash
Credit Service Revenue
Chapter 2
Performed services on credit - correct answer-Debit Accounts Receivable
Credit Service Revenue
Chapter 2
Paid cash for expenses - correct answer-Debit each expense account
Credit Cash
Chapter 2
Paid cash on account - correct answer-Debit Accounts Payable
, Credit Cash
Chapter 2
Received cash on account - correct answer-Debit Cash
Credit Accounts Receivable
Chapter 2
Owner withdrawals of cash - correct answer-Debit Owner, Withdrawals
Credit Cash
Chapter 2
Paid rent in advance - correct answer-Debit Prepaid Rent
Credit Cash
Chapter 2
Paid salaries - correct answer-Debit Salaries Expense
