Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Where a transaction affects two accounts in the same category, enter the positive amount in the first space provided and enter the negative amount in

Where a transaction affects two accounts in the same category, enter the positive amount in the first space provided and enter the negative amount in the second.

Transaction Assets Liabilities Net Worth
Purchased a new television for $1,200 on credit. 1200 1200
1) Purchased $134 worth of fuel on credit.

134

-134

2) Made a $1,140 car loan payment.

-1140

-1140

3) Purchased a desk for $1,050 cash.

1050

-1050

4) Prepaid three months of insurance with $540 cash.

540

-540

5) Received a cash gift of $880.

880

880

6) Used up one of three months of prepaid insurance.

Answer

?

Answer

?

7) Paid interest of $57, in cash, on the car loan.

-57

-57

8) Received a utility bill for $55 to be paid next month.

55

-55

please, answer question no. 6! Thank you.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Precalculus With Limits

Authors: Ron Larson, William Mendenhall

2nd Edition

1111789193, 9781111789190

More Books

Students also viewed these Mathematics questions

Question

Compute the numbers. 3 3

Answered: 1 week ago

Question

How are the residuals used in estimating ?????

Answered: 1 week ago