Sold 100 coupons books for $15 each, each book contain 10 coupons that enable the holder to one round of minature golf or to hit one bucket of golf balls. What is debit? what is credit?

When you sell coupon books, you are receiving cash (or accounts receivable if not immediately paid in cash) and you are also creating a liability for the services (miniature golf or golf balls) that you will have to provide in the future. This liability is often referred to as unearned revenue or deferred revenue.

Here's the step by step process:

1. Identify the accounts involved: In this case, the accounts involved are the cash (or accounts receivable) account and the unearned revenue account.

2. Determine the type of accounts: The cash (or accounts receivable) account is an asset account and the unearned revenue account is a liability account.

3. Apply the rules of debit and credit: In the double-entry bookkeeping system, asset accounts increase with a debit and decrease with a credit. On the other hand, liability accounts increase with a credit and decrease with a debit.

4. Calculate the total amount received: You sold 100 coupon books for $15 each, so the total amount received is 100 *$15 = $1,500.

5. Record the transaction: Since you are receiving cash (an asset), you will increase the cash (or accounts receivable) account by debiting it. And since you are creating a liability (unearned revenue), you will increase the unearned revenue account by crediting it.

So, the journal entry for this transaction would be:

Debit: Cash (or Accounts Receivable) $1,500 Credit: Unearned Revenue$1,500

This means that the cash (or accounts receivable) account (asset) has increased by $1,500 (debit) and the unearned revenue account (liability) has also increased by$1,500 (credit).