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Rewrite in the form of the T-Account method Debits are always on the left side of the T account Credits are on the right of
Rewrite in the form of the T-Account method
Debits are always on the left side of the T account
Credits are on the right of the T account
Assets (things owned) are on the left side of the equation
Liabilities (things owed) and owners equity are on the right side of the equation
Read each problem given and put them on equation T account form.Please help!!
AOF Principles of Accounting Lesson 4 The Accounting Cycle Begins Student Resource 4.7 Source Documents: Ike's MP3 Tutorial Directions: Using the accounting paper provided by your teacher, enter the following transactions in the T accounts. 3/1/2013 Memo #1 Ike, the owner, invests $2,000 into business 3/2/2013 Check 101 Purchased used desk from Try it Again Tommy's $75 3/3/2013 Invoice 421 Purchased office supplies from Office Supply Store $300 3/4/2013 Check 102 Purchased MP3 $375 3/5/2013 Note 245 Purchased used car from Ed's Auto Mart $5,500 3/6/2013 Receipts Cash receipts for month of March 2012 $6,000 #1001-1005 3/7/2013 Invoice 001 Billed customer Marsh $50 3/8/2013 Invoice 002 Billed customer Troia $100 3/9/2013 Invoice 003 Billed customer Yee $150 3/10/2013 Invoice 1313 Purchased fuel from Petrol Petrol Petrol $60 3/11/2013 Check 103 Paid Any Town Tribune advertising $125 3/12/2013 Check 104 Paid Zephyr Cell Phone Service & Equipment $95 3/13/2013 Bank Statement Earned interest on checking account of $20 3/14/2013 Check 105 Paid Ed's Auto Mart note payment of $150 3/15/2013 Check 106 Paid Office Supply Store invoice of $25Step by Step Solution
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