1. identify all accounts necessary to record the transaction properly.

2. Identify the total dollar impact of the transaction on total assets, total liabilities, total stockholders' equity, total revenues and total expenses.

10. Teresa Company receives a utility bill for the month for $1,200. Teresa Company will pay this bill in September. Accounts: Assets Liabilities Stockholders' Equity Revenues Expenses 11. Teresa Company negotiates with its bank a line of credit. The line of credit provides available funding of $120,000 and can only be used to purchase inventory. Teresa Company has not taken any draws from this line of credit. Assets Liabilities Stockholders' Equity Revenues Accounts: Expenses