What accounts are increased or decreased in the following transactions: borrowed $5,000 from bank by signing a note; paid $2,500 cash for a computer; purchased $450 of supplies on account.
![]() |
What accounts are increased or decreased in the following transactions: borrowed $5,000 from bank by signing a note; paid $2,500 cash for a computer; purchased $450 of supplies on account.
Suggest you use some T accounts to work it out or just prepare some journal entries, either way simple questions require you to try first, ask questions later
All times are GMT -7. The time now is 09:56 PM. |