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Review the transactions and determine the accounts, the account types (use assets; liabilities; owner, capital; owner, withdrawals; revenue; and expenses), if they increase/decrease and if
Review the transactions and determine the accounts, the account types (use assets; liabilities; owner, capital; owner, withdrawals; revenue; and expenses), if they increase/decrease and if they are DR/CR. List accounts in order they would be in the journal entry.
Review the transactions and determine the accounts, the account types (use assets; liabilities; owner, capital; owner, withdrawals; revenue; and expenses), if they increase/decrease and if they are DR/CR. List accounts in order they would be in the journal entry. Bright, the owner, invested cash in the business in exchange for capital. Account #1 Account Type Increase/Decrease Debit/Credit Account #2 Account Type Increase/Decrease Debit/Credit Received cash for services rendered to a client Account #1 Account Type Increase/Decrease Debit/Credit Account #2 Account Type Increase/Decrease Debit/Credit Purchase of building with note. Account #1 Account Type Increase/Decrease Debit/Credit Account #2 Account Type Increase/Decrease Debit/Credit Collected cash for future services Account #1 Account Type Increase/Decrease Debit/Credit Account #2 Account Type Increase/Decrease Debit/Credit Paid for a one year insurance policy Account #1 Account Type Increase/Decrease Debit/Credit Account #2 Account Type Increase/Decrease Debit/Credit Record the following transactions as journal entries. Bought a company truck for $6,000 by signing a note at the bank Date Accounts and Explanation Debit Credit Nov. 3 Received $9,000 for services rendered to a client Date Accounts and Explanation Debit Credit Nov. 4 Purchased $5,000 of equipment on account. Date Accounts and Explanation Debit Credit Nov.5 Paid $8,000 cash for land Date Accounts and Explanation Debit Credit Nov.5 Bright, the owner, contributed $7,000 in exchange for capital. Date Accounts and Explanation Debit Credit Nov.5Step by Step Solution
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