Illustrate the effects on the accounts and the financial statements of each of the following transactions:
$\begin{array}{lrr}
\text { Issued a $ \$ 70,000,60 $-day, $ 6 \% $ note dated April 30 to Goldman Co. on account. } & \text { Apr. 30 } &\
\text { Paid Goldman Co. the amount owed on note dated April 30.} &\text { June 29 } &\
\end{array}$

Question

Illustrate the effects on the accounts and the financial statements of each of the following transactions:
 $\begin{array}{lrr}
  \text { Issued a $ \$ 70,000,60 $-day, $ 6 \% $ note dated April 30 to Goldman Co. on account.  } & \text { Apr. 30 } &\
 \text {  Paid Goldman Co. the amount owed on note dated April 30.} &\text { June 29 } &\
\end{array}$

Quizplus · Accepted Answer

The Answer of Illustrate the effects on the accounts and the financial statements of each of the following transactions:
 $\begin{array}{lrr}
  \text { Issued a $ \$ 70,000,60 $-day, $ 6 \% $ note dated April 30 to Goldman Co. on account.  } & \text { Apr. 30 } &\
 \text {  Paid Goldman Co. the amount owed on note dated April 30.} &\text { June 29 } &\
\end{array}$

Illustrate the Effects on the Accounts and the Financial Statements