RECEIVED CASH ON ACCOUNT FROM SMITH FARMS
cash supplies accounts receivable is classified as
accounts payable, owings, loans, accruals is classified as
advertising, repairs, utilities is classified as
mortgage, creditors or AP is classified as
what is the name of the account that summarizes OE owners equity
what is the name of the account that summarize revenue
what is the name of the account that summarize money owner receives for Personal Use
what is the account that is credited when you bought supplies on account
when you Buy or Bought on account this is related to
sales or sold service on account is related to
sold services on account which account to you debit
if cash supplies prepaid insurance are asset what balance do they carry
loans mortgages AP are liabilities what balance do these carry
what balance does owners equity OE carry
advertising repairs telephone electricity are all expenses these carry
revenue or sales carries what balance because this is the only one that increase OE
Drawings reduces OE and because of this drawings carries what balance?
Every time you make cash sale or sale on account what account do you credit
Every time you pay cash what account is credited
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