Question: Match the following basic transaction analysis with the best description of the economic event. Cash is increased by $ 9 , 0 0 0 and
Match the following basic transaction analysis with the best description of the economic event.
Cash is increased by $ and the owner's equity account M Vijayakumar, Capital is increased by $
Cash is decreased by $ and the asset account Prepaid Rent is increased.
Supplies is increased by $ and the liability account Accounts Payable is increased by $
Accounts receivable is increased by $ and the revenue account Service Revenue is increased by $
Description
a Cash paid in advance for rent.
b Owner invests cash in the business.
c Supplies are purchased on account.
d Company provides service on account.
Transaction Analysis
Transaction Analysis
a Cash paid in advance for rent
b Owner invests cash in the business.
c Supplies are purchased on account.
d Company provides service on account.
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