Lennon Industries had the following transactions. 1. Borrowed 5,000 from the bank by signing a note. 2.

Question:

Lennon Industries had the following transactions.

1. Borrowed €5,000 from the bank by signing a note.

2. Paid €3,900 cash for a computer.

3. Purchased €650 of supplies on account.

Instructions

a. Indicate what accounts are increased and decreased by each transaction.

b. Journalize each transaction. (Omit explanations.)

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Financial Accounting With International Financial Reporting Standards

ISBN: 9781119787051

5th Edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

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Question Posted: Apr 04, 2024 04:26 AM

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Lennon Industries had the following transactions. 1. Borrowed 5,000 from the bank by signing a note. 2.

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Financial Accounting With International Financial Reporting Standards

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