Indicate for each the transactions the indicate the accounts and amounts that should be debited or credit

(I'm not making beginning journal entry but it's kind of like that)

We must give the accounts & the amount, at least two

8 scenarios.

Some of the actions include more than one account

1 scenario: January 1, 2001, purchased land where the usable office building there on for cash for 200,000 the tax assessment values were land 20,000 building 60,000.

We have to tell what accounts are there and what amounts.

So, we purchased this land in the building for 25 so it's basically a bundle purchase.

We are supposed to give the accounts you know whatever it debits or credit, don't have to tell which one was debit or credit just give the accounts and the amounts

Answer rating: 100% (QA)

To record the purchase of land and building on January 1 2001 Debit Land 20000 Debi... View the full answer