Debits and Credits Quiz

A business pays a supplier 100 in cash, which account does it credit?

• Accounts payable

• Accounts receivable

• Cash

• Inventory

A business buys new plant and machinery from a supplier who gives 30 days credit. Which account should the business debit?

• Fixed assets

• Capital

• Liabilities

• Cash

$ 500 cash is recorded to ( )

Account ​payable ​ (a)  

• debit
• credit

cash ​ (a)  

• debit
• credit

Land ​ (a)  

• debit
• credit

Accounts receivable ​ (a)  

• debit
• credit

( ) = liabilities + Stock holder's equity

Equipment ​ (a)  

• debit
• credit

Unearned​ revenue ​ (a)  

• assets
• owner's equity
• liabilities
• liabilites