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Unformatted text preview: receivable (payment from customer on account) or equipment (sale of equipment), or increase the sales account (cash sales). Similarly, if cash decreases, there may be an increase in another asset account, such as inventory (purchase of inventory) or equipment (purchase of equipment), a decrease in a liability account, such as accounts payable (payment to creditor) or notes payable (payment on loan), or an increase in an expense account (payment to vendor )....
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This note was uploaded on 11/15/2011 for the course ACCT 2310 taught by Professor Staff during the Spring '09 term at Texas State.
- Spring '09