Peter's Curling Inc. operates several curling centres for games and equipment sales. The following transactions occurred in

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Peter's Curling Inc. operates several curling centres for games and equipment sales. The following transactions occurred in October 2017.

Required:1. For each transaction, indicate in the appropriate column the account titles that are affected and the type of account (A for asset, L for liability, R for revenue, and E for expense), and the amount of cash received or paid.2. If a revenue or expense is to be recognized in October, indicate the amount. If a revenue or expense is not to be recognized in October, indicate why.3. Explain why the difference between revenues and expenses is not equal to the net cash flow during October 2017.image

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Related Book For  answer-question

Financial Accounting

ISBN: 978-1259105692

6th Canadian edition

Authors: Robert Libby, Patricia Libby, Daniel G Short, George Kanaan, Maureen Sterling

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