In the table below, identify the general ledger accounts that are affected by ea
ID: 2342428 • Letter: I
Question
In the table below, identify the general ledger accounts that are affected by each class of transactions:
Each column must be filled out under debit and credit , Options are: Accounts payable, accounts recievable, allowance for doubtfull accounts, cash, expenses, fixed assets, inventory, investment income, longterm debt and sales revenue.
In the table below, identify the general ledger accounts that are affected by each class of transactions:
Each column must be filled out under debit and credit , Options are: Accounts payable, accounts recievable, allowance for doubtfull accounts, cash, expenses, fixed assets, inventory, investment income, longterm debt and sales revenue.
Class of Transaction Debit Credit Cash reciepts Cash disbursements Credit sales Sales returns and allowances Purchases on credit Purchase Returns Uncollectable account Write offsExplanation / Answer
Class of Transaction Debit Credit Cash reciepts Cash Accounts Receivable Cash disbursements Accounts Payable Cash Credit sales Accounts Receivable Sales Revenue Sales returns and allowances Sales Revenue Accounts Receivable Purchases on credit Inventory Accounts Payable Purchase Returns Accounts Payable Inventory Uncollectable account Write offs Expense Allowance for doubtfull accounts