Reference no: EM13973351
During December, Desimone Auction Co. completed the following transactions:
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Desimone's business uses the following accounts:
Cash,
Accounts Receivable,
Supplies,
Land,
Accounts Payable,
Notes Payable,
Common Stock,
Dividends,
Service Revenue,
Salary Expense,
Rent Expense,
Advertising Expense,
and Utilities Expense
Requirements
1. Journalize each transaction of Desimone Auction Co. Explanations are not required.
2. Post to these T-accounts: Cash,Accounts Payable,and Notes Payable.
3. After these transactions, how much cash does the business have? How much in total liabilities does it owe?
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