Accounts in the chart of accounts are arranged according to a. Order of appearance in business transaction b. Account classification c. Magnitude d. Liquidity

Q: a. Show the journal entry to record the uncollectible accounts. b. How much will the balance sheet…

A: a) Journal Entry

Q: How do you know which account debits and credits go in?  How do you log into the general journal?…

A: We’ll answer the first question since the exact one wasn’t specified. Please submit a new question…

Q: How is the account Accounts Payable classified and what kind of balance should it have? Group of…

A: Accounts payable is the term for current liabilities in regard to purchases made on credit. Such…

Q: What are the main classification/types of accounts?

A: Accounting is the scientific recording of financial transactions with a view to compute the…

Q: How do you get the total for accounts recievable turnover

A: Accounts Receivables Turnover Ratio represents the rate at which cash is accounts receivable is…

Financial Transaction Analysis

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business, at least two accounts should be affected I.e. both the debit side and the credit side should be equal. The Accounting Equation is