During the month, Iris Labs Co. has a substantial number of transactions affecting each of the following

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During the month, Iris Labs Co. has a substantial number of transactions affecting each of the following accounts. State for each account whether it is likely to have (a) debit entries only, (b) credit entries only, or (c) both debit and credit entries.

1. Accounts Payable

2. Accounts Receivable

3. Cash

4. Dividends

5. Fees Earned

6. Insurance Expense

7. Utilities Expense

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Financial and Managerial Accounting Using Excel for Success

ISBN: 978-1111993979

1st edition

Authors: James Reeve, Carl S. Warren, Jonathan Duchac

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