1.What two accounts are affected when recording purchases that are bought on account for a merchandiser? Specifically, what account is debited? Which account is credited?

2.What two accounts are affected when the merchandiser "pays" for units purchased? Specifically, what account is debited? Which account is credited?

3.What accounts are affected when a merchandiser sells units on account? Specifically, what accounts are debited? Which accounts are credited?

Question

1.What two accounts are affected when recording purchases that are bought on account for a merchandiser? Specifically, what account is debited? Which account is credited?

2.What two accounts are affected when the merchandiser "pays" for units purchased? Specifically, what account is debited? Which account is credited?

3.What accounts are affected when a merchandiser sells units on account? Specifically, what accounts are debited? Which accounts are credited?

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