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Corporate Financial Accounting 14th Edition by Carl Warren,James Reeve,Jonathan Duchac
Edition 14ISBN: 978-1305653535Corporate Financial Accounting 14th Edition by Carl Warren,James Reeve,Jonathan Duchac
Edition 14ISBN: 978-1305653535 Exercise 2
Normal entries for accounts
During the month, Gates Labs Co. has a substantial number of transactions affecting each of the following accounts. State for each account whether it is likely to have (A) debit entries only, (B) credit entries only, or (C) both debit and credit entries.
1. Accounts Payable
2. Accounts Receivable
3. Cash
4. Fees Earned
5. Insurance Expense
6. Dividends
7. Utilities Expense
During the month, Gates Labs Co. has a substantial number of transactions affecting each of the following accounts. State for each account whether it is likely to have (A) debit entries only, (B) credit entries only, or (C) both debit and credit entries.
1. Accounts Payable
2. Accounts Receivable
3. Cash
4. Fees Earned
5. Insurance Expense
6. Dividends
7. Utilities Expense
Explanation
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Double entry accounting system : In doub...
Corporate Financial Accounting 14th Edition by Carl Warren,James Reeve,Jonathan Duchac
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