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ee LLEGE 1) Create a list of accounts of a commercial enterprise, the information must include According Sage 50- Name of the accounts - Account

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ee LLEGE 1) Create a list of accounts of a commercial enterprise, the information must include According Sage 50- Name of the accounts - Account number Type of account: from the list below 1. Group Heading 2. subgroup account 3. subgroup total account 4. group account 5. Group total account Select the accounts that need to be linked with other accounts in order to record them in the Ledger. Assignment has to be done on a word document. 2) Use the following information for questions 2 through 6: A company using the accrual method of accounting performed services on account in August. The services were for $2,000 and the company gave the customer credit terms that state the amount is to be paid to the company in September. 3) Assuming that the company prepares monthly income statements, what will be the account debited for $2,000 in August? Ans- Which account should the company credit for $2,000 in August? Ans- s In September when the company receives the $2,000 from the customer, which account should the company debit? Ans

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