Answered: J. Ilagan invested Php150,000 in a real…

J. Ilagan invested Php150,000 in a real estate agency. A.Debit land, Credit cash B.Debit cash, Credit J. Ilagan, Capital C.Debit land, Credit Accounts Payable D.None of the above

Income Tax Fundamentals 2020

38th Edition

ISBN:9780357391129

Author:WHITTENBURG

Publisher:WHITTENBURG

Chapter9: Payroll, Estimated Payments, And Retirement Plans

Section: Chapter Questions

Problem 11P

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1. J. Ilagan invested Php150,000 in a real estate agency.

A.Debit land, Credit cash

B.Debit cash, Credit J. Ilagan, Capital

C.Debit land, Credit Accounts Payable

D.None of the above

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