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    ker66 Posts: 1, Reputation: 1
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    #1

    Aug 28, 2009, 01:39 PM
    Equity transactions and finanicial ratios
    What does record transaction in T accounts
    Just Looking's Avatar
    Just Looking Posts: 1,610, Reputation: 480
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    #2

    Aug 28, 2009, 08:44 PM
    Are you asking what it means it you are instructed to record your transactions in T accounts? If that is what you are asking, you set up a T account for each account - e.g. one for cash, one for receivables, one for payables, one per expense or sales account, etc. It's called a T account because you draw a capital T on your page, and the debits go on the left side and credits on the right side.

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