account ass 1 - Joseph Ngongo Accounting 10/30/2016...

Joseph Ngongo
Accounting
10/30/2016
Assignment 3
1. Suppose you work summers house-sitting for people while they are away on vacation. Most of
your customers pay you immediately after you finish a job. A few ask you to send them a bill. It is
now June 30 and you have collected $600 from cash paying customers. Your remaining
customers owe you $1,400
2. The Michelle Cook Law Firm uses a client database. Suppose Michelle Cook paid $5,000 for a
computer
R1. A) The cash account will be a credit of $ 5000 and the computer account will be debit $
5000
B) the cash account will credit $ 5000 and the computer account will be debit $ 5000 and