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Published byClinton Conley
Modified over 5 years ago
Buying equipment with Cash 1 Equipment (Asset) Cash (Asset) + - Debit Credit Debit Credit
Bought supplies on account 2 Supplies (Asset) Accounts Payable (Liability) + + Debit Credit Debit Credit
Earned revenue from cash customers 3 Cash (Asset) Revenue ( Revenue ) + + Debit Credit Debit Credit
Earned revenue on account 4 Accounts Receivable (Asset) Revenue ( Revenue ) + + Debit Credit Debit Credit
Paid account payable 5 Accounts Payable (Liability) Cash( Asset ) - - Debit Credit Debit Credit
Earned revenue from cash customers 6 Cash (Asset) Revenue ( Revenue ) + + Debit Credit Debit Credit
Received utility bill that we’ll pay next month 7 Utilities Expense (expense) Accounts Payable (liability) + + Debit Credit Debit Credit
C3 - 1 Learning Objectives 1. The Matching Concept 2. Nature of the Adjusting Process 3. Recording Adjusting Entries 4. Summary of Adjustment Process 5.Financial.
C3 - 1 Learning Objectives Power Notes The Matching Concept and the Adjusting Process The Matching Concept and the Adjusting Process 1. The Matching Concept.
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Quiz #1 You decide to sell candies at a soccer game during December 2003 at the Rose Bowl to make some extra money. You have the following transactions:
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Accounting for a Service Business Unit 1.7 The Journal.
Accounting Is an information system that provides reports to stakeholders about the economic activities and conditions of a business.
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