COMPUTE THE FOLLOWING: SHOW YOUR SOLUTION. 3. Determine the future values if P5,000 is invested in each of the following situations: A. 5% for ten years В. 7% for seven years

Q: Show how to prepare journal entries

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A:

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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