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PROBLEM 3 TRANSACTION ENTRY ANALYSIS On Part 1 make the journal or adjusting entry. On Part 2 please indicate the effects on the accounting equation
PROBLEM 3 TRANSACTION ENTRY ANALYSIS On Part 1 make the journal or adjusting entry. On Part 2 please indicate the effects on the accounting equation by the below Transactions: (use + for Increase and - for Decrease and be sure to use the dollar amounts when relevant). PART 1 TRANSACTIONS: FOR THE H OFJUNE 1. RECEIVED S600 FROM A CUSTOMER FOR SERVICES RENDERED IN MAY. 2. YOUPAID A TOTAL RENT OF $2000 IN JUNE COVERING THE MONTH OF MAY AND JUNE EACH MONTH. (YOUR RENT IS THE SAME AMOUNT ASSET LIABILITY STOCKHOLDER'S REVENUE EXPENSE NET EQUITY INCOME
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