How does it impacts the accounting equation make sure to

Reference no: EM13587401

During the month, Genie Car Wash pays $2,700 for the following expenses, equipment rent, $1100; employee salaries, $1200; and utilities, $400. The effect on the accounting equation is as follows: The expenses decrease Genie's cash and retained earnings. List each expense seperatly to keep track of its amount.How does it impacts the accounting equation. Make sure to identify the two accounts impacted. Why is it important to record your selected transaction?

Reference no: EM13587401

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How does it impacts the accounting equation make sure to : genie performs service on account which means that genie lets some customers pay later. genie earns revenue but doesnt

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