Hog Heaven Rib Joint made the following journal entries on December 31, 2017: Place each of the
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Place each of the transactions above in one of the following five categories: (1) operating cash flow, (2) investing cash flow, (3) financing cash flow, (4) accrual adjusting journal entry, and (5) cost expiration adjusting journal entry.
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1. Salaries and Wages Expense Salaries and Wages Payable 2. Interest Expense 6,000 6,000 1,000 1,000 Cash 3. Cash Note Payable 4. Rent Expense Prepaid Rent 5. Insurance Expense Prepaid Insurance 10,500 10,500 1,500 1,500 2,800 2,800 6. Cash 2,000 Unearned Revenues 2,000 7. Equipment 9,000 Cash 9,000 8. Supplies Expense Supplies 9. Accounts Payable 12,000 12,000 8,000 8,000 Cash 10. Depreciation Expense Accumulated Depreciation 11. Advertising Expense 13,000 13,000 8,000 8,000 Cash 12. Advertising Expense Prepaid Advertising 3,000 3,000
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A journal entry is an act of keeping or making records of any transactions either economic or non-economic. Transactions are listed in an accounting journal that shows a company\'s debit and credit balances. The journal entry can consist of several recordings, each of which is either a debit or a credit
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