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Indicate which accounts and by what amount should be credited and debited to record the following transactions: [How you do it (T-accounts, ledger entries, etc).
Indicate which accounts and by what amount should be credited and debited to record the following transactions: [How you do it (T-accounts, ledger entries, etc). is up to you] a) Sell stock for $40, 000 b) Buy $4, 000 of inventory on account c) A truck that has a $20, 000 book value is sold for $25, 000. The buyer pays $15, 000 and signs a $10, 000 note d) Pay $2, 000 to someone who sold you goods 20 days ago. e) Pay back a $20, 000 loan to a bank
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