Credits increase revenues, whereas debits increase which of the following accounts?

Sales Discounts is a contra-_____ account and is increased with a _____.

When a company buys a new machine for cash, which of the following journal entries correctly records the transaction?

In accounting for factory overhead, the Factory Overhead account is ______ for actual overhead costs incurred during the period.

Given the following T-accounts summarizing Telstar's production activity for the year, which journal entry correctly records the transfer of completed goods from Work in Process to Finished Goods under a job order costing system?

Which of the following journal entries correctly records Badger Biking Company's purchase of inventory on account for $2,000 during June?

Mason Company provided the following data for this year: Service Revenue earned was \$50,000, Cash collected from customers was \$45,000, and Accounts Receivable increased by \$5,000. Which of the following is the correct journal entry to record the service revenue earned for the year?

With double-entry accounting, each transaction requires:

Which of the following is the correct journal entry for Fantastic Tea receiving $3,000 cash from Don Smith in exchange for common stock on December 1?