Determine the accounts and amounts to be debited and credited for the following transactions for Madison's Clock Repair.
A. Purchased new equipment for $1,700 by issuing a check for $1,000 as a down payment with the balance due in 30 days.
B. Issued checks for $2,400 to pay the employees their monthly salaries.
C. Issued a check for $700 to pay a creditor on account.
D. Purchased supplies for $200 cash.
E. Provided services for $6,800 on credit.
F. Returned damaged supplies and received a $50 cash refund.
G. Issued a check for $100 to pay the monthly telephone bill.

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The Answer of Determine the accounts and amounts to be debited and credited for the following transactions for Madison's Clock Repair.
A. Purchased new equipment for $1,700 by issuing a check for $1,000 as a down payment with the balance due in 30 days.
B. Issued checks for $2,400 to pay the employees their monthly salaries.
C. Issued a check for $700 to pay a creditor on account.
D. Purchased supplies for $200 cash.
E. Provided services for $6,800 on credit.
F. Returned damaged supplies and received a $50 cash refund.
G. Issued a check for $100 to pay the monthly telephone bill.

Determine the Accounts and Amounts to Be Debited and Credited