Describe a transaction that resulted in the following for Sound P.0.4 Instrument Repair: * Describe various transactions.

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Describe a transaction that resulted in the following for Sound P.0.4 Instrument Repair:

* Describe various transactions.

a. Repair Parts is increased by $77, and Accounts Payable is increased by $77.

b. Accounts Payable is decreased by $750, and Cash is decreased by $750.

c. Rent Expense is increased by $850, and Cash is decreased by $850.

d. Advertising Expense is increased by $126, and Accounts Payable is increased by $126.

e. Accounts Receivable is increased by $315, and Service Income is increased by

$315.

f. Cash is decreased by $200, and L. J. Miller, Drawing, is increased by $200.

g. Equipment is increased by $322, Cash is decreased by $100, and Accounts Payable is increased by $222.

h. Cash is increased by $217, and Accounts Receivable is decreased by $217.

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College Accounting Chapters 1-26

ISBN: 9780395796993

6th Edition

Authors: Douglas J. McQuaig, Patricia A. Bille

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