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what are the effects of each entry showing assets, liabilities, equities, revenue, expenses, and net income Answer: Date Account Title Debit Credit Jan 14 Accounts
what are the effects of each entry showing assets, liabilities, equities, revenue, expenses, and net income
Answer: Date Account Title Debit Credit Jan 14 Accounts Receivable 1,125 Sales Revenue (25 * $45) 1,125 (To record sales made on account) Jan 14 Cost of Goods sold 625 Inventory (25 * $25) 625 (To record cost of sales) Apr 9 Inventory (15 * $25) 375 Accounts Payable 375 (To record purchases made on account) Sep 2 Accounts Receivable (50 * $50) 2,500 Sales Revenue 2,500 (To record sales made on account) Sep 2 1,250 Cost of Goods sold. (50 * S25) 1,250 Inventory (To record cost of goods sold) Ne foumal Entry recitired
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