For each of the transactions in M2-9 (including the sample), post the effects to the appropriate T-accounts
Question:
From M2-9
a. (Sample) Borrowed $3,940 from a local bank on a note due in six months.
b. Received $4,630 cash from investors and issued stock to them.
c. Purchased $1000 in equipment, paying $200 cash and promising the rest on a note due in one year.
d. Paid $300 cash for supplies.
e. Bought and received $700 of supplies on account
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Related Book For
Fundamentals of Financial Accounting
ISBN: 978-0078025372
4th edition
Authors: Fred Phillips, Robert Libby, Patricia Libby
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