Beginning balances were: Cash, $91,000; Taxes Receivable, $186,500; Accounts Payable, $50,750; and Fund Balance, $226,750.Note: Enter debits before credits. TransactionGeneral JournalDebitCredit01 .

General Journal :- General journal is part of accounting bookkeeping system.It means a book of…

Answered: Beginning balances were: Cash, $91,000;…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Beginning balances were: Cash, $91,000; Taxes Receivable, $186,500; Accounts Payable, $50,750; and Fund Balance, $226,750.

Note: Enter debits before credits.

Transaction	General Journal	Debit	Credit
01

Expert Solution

Step 1: Introduction

General Journal :- General journal is part of accounting bookkeeping system.
It means a book of original entry that requires that both the account being credited and account credited along with respective amounts.

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