can you help me to make a t account base on transaction 2? 96Chapter 4Owner's Equity+LiabilitiesAssets%3DDebitCreditCreditDebitCreditDebit200200The company pays $500 to Dini Bros. in partialTRANSACTIONpayment of the amount owed to them.AnalysisThis transaction is recorded on a transaction analysis sheet as follows:(E)Amount(D)(C)Increase (+)(B)Asset, Liability,or Owner'sEquity(A)Debit or CreditAccountNamesorDecrease (-)A/P- Dini Bros.LiabilityDr500-CashAsset500->

T-account is being used to record to double entry impact made by a financial transaction, separate…

Answered: TRANSACTION 2 The company pays $500 to…

Business

Accounting

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

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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Question

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->

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