Solution-Find the dollar amount on the debit or credit side

Find the dollar amount on the debit or credit side

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Reference no: EM13512545

George Atlas started a business on June 1, 20--. Analyze the following transactions for the first month of business using T accounts. Label each T account with the title of the account affected and then place the transaction letter and the dollar amount on the debit or credit side.

(a) Invested cash in the business, $7,000.
(b) Purchased equipment for cash, $900.
(c) Purchased equipment on account, $1,500.
(d) Paid cash on account for equipment purchased in transaction (c), $800.
(e) Withdrew cash for personal use, $1,100.

Reference no: EM13512545

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Identifying each transaction with its corresponding letter : Harold Long started a business in May 20-- called Harold's Home Repair. Long hired a part-time college student as an assistant. Long has decided to use the following accounts for recording transactions.

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Find the dollar amount on the debit or credit side

Reference no: EM13512545

Reference no: EM13512545

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