Provide journal entries to record each of the following transactions. For each, identify whether the transaction represents

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Provide journal entries to record each of the following transactions. For each, identify whether the transaction represents a source of cash (S), a use of cash (U), or neither (N).
A. Paid $22,000 cash on bonds payable.
B. Collected $12,600 cash for a note receivable.
C. Declared a dividend to shareholders for $16,000, to be paid in the future.
D. Paid $26,500 to suppliers for purchases on account.
E. Purchased treasury stock for $18,000 cash.

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Principles Of Accounting Volume 1 Financial Accounting

ISBN: 9781593995942

1st Edition

Authors: Mitchell Franklin, Patty Graybeal, Dixon Cooper, OpenStax

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