Question: Part A: Explain: What is a double entry system and a transaction? What is the primary function of the General Journal? What is the primary

Part A: Explain: What is a double entry system and a transaction? What is the primary function of the General Journal? What is the primary function of the General Ledger? Explain the accounting equation. How are assets, liabilities, principal, retirement, income, and expenses affected (increased or decreased)?

The balance, before adjustments, in the TrovatoServices legder as of December 31 is as follows: accounting.png Download the worksheet and prepare for TrovatoServices to December for the following adjustments: Company Supplies on hand, December 31, $3,500.00. Insurance expired for December, 31 $4,800.00. Depreciation on equipment for December 31, $13,600.00. Wages accrued but not paid at December 31, $2,400.00 Complete the following financial statements: Income Statement, Owner's Equity and Balance Sheet.

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