Fredo Industries had the following transactions. 1. Borrowed $5,000 from the bank by signing a note. 2.
Question:
1. Borrowed $5,000 from the bank by signing a note.
2. Paid $2,500 cash for a computer.
3. Purchased $450 of supplies on account.
Instructions
(a) Indicate what accounts are increased and decreased by each transaction.
(b) Journalize each transaction.
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a 1 Increase the asset Cash increase the liability Notes Paya...View the full answer
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Related Book For
Financial Accounting
ISBN: 9781118334324
9th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
Question Posted:
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