Zelinsky Electronics, Corp., was recently formed as a corporation. The balance of each item in the companys
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Requirement
1. A single transaction took place on each day. Briefly describe the transaction that most likely occurred on each day, beginning with October 4. Indicate which accounts were increased or decreased and by what amounts. Assume that no revenue or expense transactions occurred during themonth.
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Accounts receivable Supplies Common Retained Accounts Cash Land payable stock earnings Oct 1 $4,000 9,000 $7,300 $1,200 $12,800 $4,000 $14,000 $7,300 19,000 7,300 7,300 7,300 1,200 12,800 16,800 4,000 4,000 7,300 5,000 1,200 19,000 19,000 19,000 13 5,000 7,300 1,600 16,800 4,400 7,300 16 3,500 7,300 1,600 16,800 2,900 7,300 4,800 1,600 19 6,000 16,800 2,900 19,000 7,300 7,300 22 9,800 9,200 6,000 1,600 1,600 16,800 16,800 2,900 2,300 24,000 24,000 25 6,000 7,300 27 8,400 6,000 2,400 16,800 2,300 24,000 7,300 30 2,700 6,000 2,400 16,800 2,300 24,000 1,600
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Req 1 Date Transaction Type Account Increase Decrease Amount Oct 4 Iss...View the full answer
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Related Book For
Financial and Managerial Accounting
ISBN: 978-0132497978
3rd Edition
Authors: Horngren, Harrison, Oliver
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Accounts payable are money owed by a business to its suppliers shown as a liability on a company\'s balance sheet. It is distinct from notes payable liabilities, which are debts created by formal legal instrument documents
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