entory on cost 35, Tems. balance to Crop Company on November 13. (Assume both companies use a perpetual inventory system and that sales are recorded at the net amount.) Read the requirements. Date Requirement 1. Journalize Team Wholesaler's November transactions. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Nov. 4: Purchased merchandise inventory on account from Crop Company for $15,000, terms 3/10, n/30. Debit Nov. 4 wholesa Accounts Credit Requirements 5, Team 1. 2. salers paid Journalize Team Wholesaler's November transactions. Journalize Crop Company's November transactions. Print Done X paid

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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