The following list includes a series of accounts for Sanjeev Corporation, which has been operating for three years. These accounts are listed and numbered for identification. Following the accounts is a series of transactions. For each transaction, indicate the account(s) that should be debited and credited by entering the appropriate account number(s) to the right of each transaction. The first transaction is used as an example. Account No. Account Title Account No. Account Title
1 Cash 10 Income Taxes Payable
2 Accounts Receivable 11 Common Stock
3 Supplies 12 Additional Paid-in Capital
4 Prepaid Expenses 13 Retained Earnings
5 Equipment 14 Service Revenue
6 Patents 15 Operating Expenses (wages, supplies)
7 Accounts Payable 16 Income Tax Expense
8 Note Payable 17 Interest Expense
9 Wages Payable

Note: The question is attached as picture

(a)  Example has been illustrated

(b)   Dr 15. Operating Expenses (wages, supplies)  

         Cr 1. Cash

(c)  Dr 7. Account Payable

       Cr 1. Cash

(d)  Dr 3. Supplies

       Cr 1. Cash

(e)  Dr 2. Account Receivable

        Cr 14. Service Revenue

(f)  Dr 1. Cash

       Cr 2. Account Receivable

(g) Dr 1. Cash

        Cr 11. Common Stock

(h)   Dr 15. Operating Expenses (wages, supplies)

         Cr 1. Cash

(i)   Dr 15. Operating Expenses (wages, supplies)

       Cr 9. Wages Payable

(j)    Dr 6. Patent

        Cr 1. Cash

(k)   Dr 1. Cash  

         Cr. 14. Service Revenue

(l)   Dr 15. Operating Expenses (wages, supplies)

        Cr 3. Supplies

(m) Dr 16. Income Tax Expense

         Cr 1. Cash

         Cr. 10. Income Tax Payable

(n)    Dr 8. Note Payable

      Dr 17. Interest Expense

         Cr 1. Cash

(o)  Dr 4. Prepaid Expense

          Cr 1. Cash

answer; i believe that the correct answer is (d); the business benefits because owners can share responsibilities;