Listed Below Are Accounts of Global Company, Each Identified by a Number

Essay

Listed below are accounts of Global Company, each identified by a number. Following this list of accounts is a series of transactions. You are to indicate for each transaction the accounts that should be debited and credited by inserting the proper account numbers in the space provided.
$\begin{array}{|l|l|l|l|}\hline 1 & \text { Cash } & 5 & \text { Delivery Equipment } \\\hline 2 & \text { Accounts Receivable } & 6 & \text { Notes Payable } \\\hline 3 & \text { Land } & 7 & \text { Accounts Payable } \\\hline 4 & \text { Building } & 8 & \text { Share Capital } \\\hline & & 9 & \text { Retained Earnings } \\\hline\end{array}$ $$\begin{array} { | l | c | c | } \hline { \text { Trarsaction } } & \begin{array} { c } \text { Accounts(s) } \\\text { Debited }\end{array} & \begin{array} { c } \text { Account(s) } \\\text { Credited }\end{array} \\\hline \begin{array} { l } \text { Example: Purchased delivery equipment, paying } \\\text { part cash and charging the balance on account }\end{array} & 5 & 1,7 \\\hline \text { G. Paid an account payable } & & \\\hline \text { H. Collected an account receivable } & & \\\hline \text { I. Issued share capital in exchanige for cash } & & \\\hline \begin{array} { l } \text { J. Sold some delivery equipment at costl } \\\text { received part of the proceeds in cash, with the } \\\text { balance due in 60 days }\end{array} & & \\\hline \begin{array} { l } \text { K. Purchased land and building paying part cash } \\\text { and signing a note payable for the balance }\end{array} & & \\\hline \begin{array} { l } \text { L. Borrowed money from a bank and signed a } \\\text { note payable due in six months }\end{array} & & \\\hline\end{array}$$