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This is what I have so far for these accounting transactions. Im not sure if they are right but I really need some help finishing
This is what I have so far for these accounting transactions. Im not sure if they are right but I really need some help finishing the transactions.
1. The firm buys land with $100,000 in cash to use in a future project. Fixed assets Cash increase by $100,000 | will | decrease by $100,000. 2. The firm uses credit to purchase raw materials for production worth $15,000 | will | increase | will | decrease | by $15,000. -by $15,000. Accounts payable 3. A customer pays $7,500 to settle its account with the firm. Cash I will increase | by $7,500. | will | decrease-by $7,500. | Acc nts rec le 4. The firm pays monthly rent and utilities of $6,000 in cash | by $6,000. Operating expense | will | increase Cash I will! decrease | by $6,000. 5. The firm issued new long-term bonds at their par value of $100,000. Cash will increase | by $100,000. Accrued liabilities | will | increase | by $100,000Step by Step Solution
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