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TRANSACTION 2 The company pays $500 to Dini Bros. in partial payment of the amount owed to them.

TRANSACTION 2 The company pays $500 to Dini Bros. in partial payment of the amount owed to them.

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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can you help me to make a t account base on transaction 2?
96 Chapter 4 Owner's Equity + Liabilities Assets %3D Debit Credit Credit Debit Credit Debit 200 200 The company pays $500 to Dini Bros. in partial TRANSACTION payment of the amount owed to them. Analysis This transaction is recorded on a transaction analysis sheet as follows: (E) Amount (D) (C) Increase (+) (B) Asset, Liability, or Owner's Equity (A) Debit or Credit Account Names or Decrease (-) A/P- Dini Bros. Liability Dr 500- Cash Asset 500->
Transcribed Image Text:96 Chapter 4 Owner's Equity + Liabilities Assets %3D Debit Credit Credit Debit Credit Debit 200 200 The company pays $500 to Dini Bros. in partial TRANSACTION payment of the amount owed to them. Analysis This transaction is recorded on a transaction analysis sheet as follows: (E) Amount (D) (C) Increase (+) (B) Asset, Liability, or Owner's Equity (A) Debit or Credit Account Names or Decrease (-) A/P- Dini Bros. Liability Dr 500- Cash Asset 500->
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