Determine how the accounts would be affected (increase or decrease and debit or credit) for the following
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Determine how the accounts would be affected (increase or decrease and debit or credit) for the following transactions occurring in January 2009 for Networking Solutions, Inc.:
1. The company received $25,000 cash from the owner in exchange for common stock.
2. The company purchased $10,000 of new office computers on account.
3. The company sold $2,500 of inventory for cash.
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Related Book For
Financial Accounting: A Business Process Approach
ISBN: 978-0136115274
3rd edition
Authors: Jane L. Reimers
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