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Accounting Equation and Debit/Credit Rules Complete the Accounting Equation below by placing the following account types in the proper order to complete the accounting
Accounting Equation and Debit/Credit Rules Complete the Accounting Equation below by placing the following account types in the proper order to complete the accounting equation: Assets, Common Stock, Dividends, Expenses, Liabilities and Revenues. Indicate the increase side of the account with "+" and the decrease side with a "-". Book the following transactions from the perspective of the buyer and the seller: Apr 19 Seller Co. sold $80,000 in Merchandise to Buyer Co. on account, n/30 (Cost of Goods Sold was $50,000) Buyer signed a $80,000 90-day, 10% note as an extension of the A/R Buyer paid Seller Co the maturity value May 19 Aug 17 Seller Co. Date 1 Description Post ref Debit Credit. 2 1 2 3 4 3 5 6 7 8 9 10 11 12 4. 5 6 7 8 9 10 11 12 Buyer Co. Date Description Post ref Debit Credit -2345. 1 2 3 4 5 6 7 6 7 8 8 9 9 10 11 10 11
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