The owners paid $3,500 for website advertising. They were able to get a good dea

Question

The owners paid $3,500 for website advertising. They were able to get a good deal because one of the company's owners also owns stock in the website company. The owners also paid $7,000 for some advertising in local newspapers. [Note: Combine both transactions into one entry].(choose an option for the account and answer the dollar amount based on the account )

1) Account:                                                                      Dollar Amount:  

A)Cash   b) Account receivable   C) Inventory   D) Repaid rent   E) Fixture and Equipment   F) Account Payable   G) Interest Payable   H) Wages payable I) Notes payable   K) Paid-in capital    L) Retained Earning   M) Leave Blank            

2)Account:                                                                      Dollar Amount:  

A)Cash   b) Account receivable   C) Inventory   D) Repaid rent   E) Fixture and Equipment   F) Account Payable   G) Interest Payable   H) Wages payable I) Notes payable   K) Paid-in capital    L) Retained Earning   M) Leave Blank         

3)Account:                                                                      Dollar Amount:  

A)Cash   b) Account receivable   C) Inventory   D) Repaid rent   E) Fixture and Equipment   F) Account Payable   G) Interest Payable   H) Wages payable I) Notes payable   K) Paid-in capital    L) Retained Earning   M) Leave Blank    

4)Account:                                                                      Dollar Amount:  

A)Cash   b) Account receivable   C) Inventory   D) Repaid rent   E) Fixture and Equipment   F) Account Payable   G) Interest Payable   H) Wages payable I) Notes payable   K) Paid-in capital    L) Retained Earning   M) Leave Blank                                                        

5)Account:                                                                      Dollar Amount:  

A)Cash   b) Account receivable   C) Inventory   D) Repaid rent   E) Fixture and Equipment   F) Account Payable   G) Interest Payable   H) Wages payable I) Notes payable   K) Paid-in capital    L) Retained Earning   M) Leave Blank                                                        

Explanation / Answer

Account Dollar amount Cash -10500 Retained Earning -10500

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