Question: Question # 2 - State how a journal is used in the recording process and journalize transactions. Required: Based on the journal entries below, provide

Question #2- State how a journal is used in the recording process and journalize transactions.
Required:
Based on the journal entries below, provide an explanation of the event that properly describes the transaction.
a. Cash vv- J. Squires, Capital
b. Equipment Notes Payable
c. Accounts Receivable Service Revenue
d. Prepaid Insurance Cash
e. J. Squires, Withdrawals Cash
22,00022,0001,0001,0001,6001,60010,00010,0006,5006,500
20,000
Accounts payable
20,000
Question #2- State how a journal is used in the recording

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