1. (LO 3) Name the necessary bookkeeping entries in the accounts of the Friedman Bank to record...

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1. (LO 3) Name the necessary bookkeeping entries in the accounts of the Friedman Bank to record the following transactions.

a) The Friedman Bank sells some of its old computers for

$20 000 in cash.

b) The bank buys $50 000 worth of government bonds from one of its customers and pays by cheque.

c) The Friedman Bank calls in the $5000 loan of Kim’s, who pays in cash.

d) The bank grants a loan of $10 000 to Radim.

e) Radim, a customer of the Friedman Bank, writes a cheque for $10 000 payable to his father, who deposits it in his own account at the same bank.

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Related Book For  book-img-for-question

Principles Of Macroeconomics

ISBN: 9780226818399

8th Edition

Authors: Sayre, J.E.; Morris, A.J.

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