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Show the following transactions for a household on a double-entry bookkeeping ledger (values are expressed in the same given unit of account): Household earns a salary paid in a checking account (value=100). Household makes consumption expenses (value=80). Household buys a property (value=15,000) with a down payment of 10,000 and a loan of 5,000. ENTRY DEBIT CREDIT Salary     Deposits     Consumption expenses     Deposits     Loan     Deposits     Property     Deposits

Show the following transactions for a household on a double-entry bookkeeping ledger (values are expressed in the same given unit of account): Household earns a salary paid in a checking account (value=100). Household makes consumption expenses (value=80). Household buys a property (value=15,000) with a down payment of 10,000 and a loan of 5,000. ENTRY DEBIT CREDIT Salary     Deposits     Consumption expenses     Deposits     Loan     Deposits     Property     Deposits

FINANCIAL ACCOUNTING
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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Show the following transactions for a household on a double-entry bookkeeping ledger (values are expressed in the same given unit of account):

Household earns a salary paid in a checking account (value=100).

Household makes consumption expenses (value=80).

Household buys a property (value=15,000) with a down payment of 10,000 and a loan of 5,000.

ENTRY

DEBIT

CREDIT

Salary

  

 

Deposits

 

  

Consumption expenses

  

 

Deposits

 

 

Loan

 

 

Deposits

 

 

Property

 

 

Deposits

 

 

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