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What is double entry accounting

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Reference no: EM132465667

Question 1: What is double entry accounting for the following problems?

Problem 1) Owner paid $5,000 for land

Problem 2) Owner collected $8,000 cash for future services

Problem 3) Owner paid $8,000 cash on account

Reference no: EM132465667

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What is double entry accounting : What is double entry accounting for Owner paid $5,000 for land, Owner collected $8,000 cash for future services ,Owner paid $8,000 cash on account the problems?
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