M. Gonzales has the following transactions during August of the current year. Indicate (a) The effect on

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M. Gonzales has the following transactions during August of the current year. Indicate

(a) The effect on the accounting equation

(b) The debit-credit analysis illustrated in the textbook.

Aug. 1 Opens an office as a financial advisor, investing $9,000 in cash.

4 Pays insurance in advance for 6 months, $2,100 cash.

16 Receives $3,600 from clients for services performed.

27 Pays secretary $1,000 salary.

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Accounting Principles

ISBN: 978-1119411482

13th edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

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Question Posted: Jan 12, 2019 04:31 AM

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M. Gonzales has the following transactions during August of the current year. Indicate (a) The effect on

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a Effect on Accounting Equation b DebitCredit Analysis Aug 1 The asset Cash ...View the full answer

Accounting Principles

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