Asked by Anonymous
What do you debit and credit for the following transactions?
1. Repair parts used during January, $4000. (Hint: Debit this to Repair Parts Expense.)
2. Rent expense for the month of January recorded. However, no cash was paid. A rent payment had been made for three months, in advance, on December 1, 2002, in the amount of $4500.
1. Repair parts used during January, $4000. (Hint: Debit this to Repair Parts Expense.)
2. Rent expense for the month of January recorded. However, no cash was paid. A rent payment had been made for three months, in advance, on December 1, 2002, in the amount of $4500.