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    Majjie
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    This document shows accounting transactions for an organization over the period of January 1 to October 24. It records the purchase of furniture and fixtures using capital contributions and accounts payable, sales that generated cash and increased accounts receivable, payment of salary expenses in cash, and a return on a sales that decreased accounts receivable. The transactions debit expense accounts and increase asset and revenue accounts, and credit asset and expense accounts and increase liability and equity accounts to maintain the balance sheet equality.

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    This document shows accounting transactions for an organization over the period of January 1 to October 24. It records the purchase of furniture and fixtures using capital contributions and accounts payable, sales that generated cash and increased accounts receivable, payment of salary expenses in cash, and a return on a sales that decreased accounts receivable. The transactions debit expense accounts and increase asset and revenue accounts, and credit asset and expense accounts and increase liability and equity accounts to maintain the balance sheet equality.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    Download as docx, pdf, or txt
    4 views2 pages

    Date

    Uploaded by

    Majjie
    This document shows accounting transactions for an organization over the period of January 1 to October 24. It records the purchase of furniture and fixtures using capital contributions and accounts payable, sales that generated cash and increased accounts receivable, payment of salary expenses in cash, and a return on a sales that decreased accounts receivable. The transactions debit expense accounts and increase asset and revenue accounts, and credit asset and expense accounts and increase liability and equity accounts to maintain the balance sheet equality.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
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    of 2

    date Account title debit credit

    01 Cash 1, 500, 000


    Ty, Capital 1, 500, 000
    01 Furniture and Fixtures 850, 000
    Accounts Payable 850, 000
    03 Furniture and Fixtures 520,000
    Accounts Payable 520, 000
    05 Cash 350, 000
    Sales 350, 000
    06 Accounts Receivable 520, 000
    Sales 520, 000
    10 Salary Expense 8, 000
    Cash 8, 000
    22 Sales Return 25, 000
    Accounts Receivable 25, 000
    24 Accounts Payable 18, 000
    Furniture and Fixture 18, 000

    A title debit credit


    Cash

    Ty, Capital
    Furniture and Fixtures
    Accounts Payable
    Sales Revenue
    Accounts Receivable
    Salary Expense

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