Lennon Industries had the following transactions. 1. Borrowed 5,000 from the bank by signing a note. 2.
Question:
Lennon Industries had the following transactions.
1. Borrowed €5,000 from the bank by signing a note.
2. Paid €3,900 cash for a computer.
3. Purchased €650 of supplies on account.
Instructions
a. Indicate what accounts are increased and decreased by each transaction.
b. Journalize each transaction. (Omit explanations.)
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Related Book For
Financial Accounting With International Financial Reporting Standards
ISBN: 9781119787051
5th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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