Journalize the transactions: Transaction : Soft byte purchases $1,600 of computer paper and other supplies that are
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Journalize the transactions:
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Transaction : Soft byte purchases $1,600 of computer paper and other supplies that are expected to last several months from the Alpha Supply Company. Alpha Supply will allow Soft byte to pay this bill next month (in October). Th is transaction is referred to as a purchase on account, or a credit purchase Transaction : Soft byte receives $1,200 cash from customers for programming services it has provided. This transaction is Soft byte's main revenue-producing activity. Remember that revenue increases profit, which, then increases owner's equity. Transaction : Soft byte purchases $1,600 of computer paper and other supplies that are expected to last several months from the Alpha Supply Company. Alpha Supply will allow Soft byte to pay this bill next month (in October). Th is transaction is referred to as a purchase on account, or a credit purchase Transaction : Soft byte receives $1,200 cash from customers for programming services it has provided. This transaction is Soft byte's main revenue-producing activity. Remember that revenue increases profit, which, then increases owner's equity.
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Related Book For
Valuation Measuring and managing the values of companies
ISBN: ?978-0470424704
5th edition
Authors: Mckinsey, Tim Koller, Marc Goedhart, David Wessel
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