Double-entry accounting: According to the double-entry system, the accounting equation should remain in balance. In accounting, at least two accounts should be involved, and each debit entry will have its corresponding credit entry with equal amounts, this will make the debit side equal to the credit side, at the end of the year each ledger is balanced and excess of one side over another side will be transferred to next period as balance. The general journal entries.

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Chapter 2, Problem 13E

1.

To determine

Concept Introduction:

Double-entry accounting: According to the double-entry system, the accounting equation should remain in balance. In accounting, at least two accounts should be involved, and each debit entry will have its corresponding credit entry with equal amounts, this will make the debit side equal to the credit side, at the end of the year each ledger is balanced and excess of one side over another side will be transferred to next period as balance.

The general journal entries.

2.

To determine

Concept Introduction:

Double-entry accounting: According to the double-entry system, the accounting equation should remain in balance. In accounting, at least two accounts should be involved, and each debit entry will have its corresponding credit entry with equal amounts, this will make the debit side equal to the credit side, at the end of the year each ledger is balanced and excess of one side over another side will be transferred to next period as balance.

Posting of each of the entries to T-accounts and ending balance of each of the given T-accounts.

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