Prepare journal entries to record the following transactions. A. January 22, purchased, an asset, merchandise inventory B.
Question:
Prepare journal entries to record the following transactions.
A. January 22, purchased, an asset, merchandise inventory
B. on account for $2,800.
C. February 10, paid creditor for part of January 22 purchase, $1,600
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Related Book For
Principles Of Accounting Volume 1 Financial Accounting
ISBN: 9781593995942
1st Edition
Authors: Mitchell Franklin, Patty Graybeal, Dixon Cooper, OpenStax
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A journal entry is an act of keeping or making records of any transactions either economic or non-economic. Transactions are listed in an accounting journal that shows a company\'s debit and credit balances. The journal entry can consist of several recordings, each of which is either a debit or a credit
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