Read Each of the Following Transactions

Essay

Read each of the following transactions. Determine the accounts and amounts to be debited and credited. The company uses the Periodic Inventory method.
A)Issued a check for $10,600 to pay a $10,000 note plus interest of $600.
B)Issued a check for $1,500 to pay the monthly rent.
C)Issued a check for $7,840 to a creditor on account for an invoice of $8,000 less a cash discount of $160.