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1. Think about the transactions listed below.a. A company obtains a $10,000 loan from a bank.b. A company purchases $15,000 of inventory from its suppliers. They paid $5,000 today and will pay the reminder at a later date.c. A company makes a $20,000 sale. The customer will pay in 30 days.For each transaction:i. What accounts would be impacted?ii. Would those accounts increase or decrease?iii. What would you debit and what would you credit if you were doing a journal entry?
Trade credit creates accounts or debtors receivables. Trade credit is utilized as a marketing tool to expand competitive advantage over trade rivals. A firm's investment in account
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You have previously been exposed to the 'Introduction and analysis' of financial statements in previous sections of this course. From now you might have acquired several familiarit
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