Required: Record the debit and credit in the appropriate account for each of the following transactions (transaction
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Debit Cash Credit 1. ssued share capital for cash 2. Purchased equipment on credit 3. Share Capital Paid for a one-year insurance policy 4. Billed a customer for repairs completed today 5. Paid this month's rent 6. Collected the amount billed in transaction 4 above 7. Collected cash for repairs completed today 8. Paid for the equipment purchased in transaction 2 above 9. Signed a union contract 10. Collected cash for repairs to be made for customers next month 11. Transferred this month's portion of prepaid insurance to insurance expense.
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Related Book For
Accounting Introduction To Financial Accounting
ISBN: 9781517089719
1st Edition
Authors: Henry Dauderis, David Annand
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