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Hello, I have answered these but want to know if I have done it correctly, if not please explain. Thank you, 4) The company made
Hello,
I have answered these but want to know if I have done it correctly, if not please explain.
Thank you,
4) The company made cash sales to customers for $441,690. Describe the effects of this transaction on the accounting equation in terms of debits and credits Assets 6) The merchandise sold to customers cost the company $360,000. Describe the effects of this transaction on the accounting equation in terms of debits and credits \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Describe the effects of this transaction on the accounting equation in terms of debits and credits } \\ \hline Assets & & = & Liabilities & \\ \hline & 360,000 & & & \\ \hline \multicolumn{5}{|c|}{ Prepare the appropriate journal entry for this transaction } \\ \hline & Account Name & & Debit & Credit \\ \hline & Sales Revenue & & 360,000 & \\ \hline & & & & 360,000 \\ \hline & & & & \\ \hline & & & & \\ \hline \end{tabular} 5) The company made sales of $272,717 to customers on account. Describe the effects of this transaction on the accounting equation in terms of debits and creditsStep by Step Solution
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