Please answer all parts of this question.
Homework Answers
Part 1
Answer is option A
A. no change in expense
Entry
|
Date |
Account titles and explanation |
Debit |
Credit |
|
June 1 |
Prepaid rent |
9000 |
|
|
Cash |
9000 |
Expenses are not affected on June 1
Part 2
Answer is option B
B. no change in cash
Entry
|
Date |
Account titles and explanation |
Debit |
Credit |
|
June 1 |
Rent expense |
3000 |
|
|
Prepaid rent (9000/3) |
3000 |
Cash is not affected on June 30
Part 3
Answer is option C
C. an increase in cash
Entry
|
Date |
Account titles and explanation |
Debit |
Credit |
|
December 15 |
Cash |
4000 |
|
|
Accounts receivable |
4000 |
Debit balance of cash indicates increase in cash
Part 4
Answer is option C
C. an increase in revenue
Entry
|
Date |
Account titles and explanation |
Debit |
Credit |
|
November 6 |
Accounts receivable |
4000 |
|
|
Sales revenue |
4000 |
Credit balance of sales revenue indicates increase in revenue
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