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Unformatted text preview: E2-1 H. Burns Inc. Date: Debits 2-Jan Cash 3-Jan Car 9-Jan Supplies 11-Jan Service 16-Jan Paid Customer 20-Jan Payment Received 23-Jan Paid creditor 30-Jan Paid Cash Dividend Basic Type 2-Jan asset 3-Jan asset 9-Jan asset 11-Jan liability 16-Jan liability 20-Jan asset 23-Jan liability 30-Jan liability P2-3A Chambers Brokerage Services Inc. Month May Debit Cash Salary Cash Cash Payment Purshase Purshase Payment Payment Bills Credit Stock Labor Warehouse rental agreement Furniture and Equiptment Furniture and Equiptment Insurance Office supplies Office supplies AP AC Utlities Total Reveune Trail balance Total retained earnings $40,000.00 $202,600.00 $139,800.00 Credits Common Stock Advertising Cash Specific Account cash car supplies service Payment AR Payment Payment Effect increase decrease decrease decrease decrease increase decrease decrease Normal balance Debit Debit Debit Debit Debit Credit Debit Debit Basic Type Stockholders equity Stockholders equity asset liability liability asset liability liability Specific Account Common Stock Business use purchase Billed Customers Advertising Payment received Balanced owed Dividend Effect Increase decrease decrease same decrease Increase decrease decrease Normal Balance Credit debit debit debit Credit Credit debit debit ...
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This note was uploaded on 03/31/2009 for the course ACCOUNTING 362 taught by Professor Hamman during the Spring '09 term at University of Phoenix.
- Spring '09