Identify the most important issue in recording a transaction among recognition, valuation, or classification.

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Chapter 2, Problem 2DQ

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Identify the most important issue in recording a transaction among recognition, valuation, or classification.

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please help me create a balance sheet and expalin (a) Lisa invested cash by making a deposit in a bank account for the business, $9,000. (b) Paid rent for July, $150. (c) Purchased a used van for cash, $5,000. (d) Purchased a laptop computer (Computer Equipment) on account for, $500. (e) Purchased cleaning supplies that cost $200. Paid $100 cash and will pay the balance next month, $100. (f) Paid part-time assistant (Salaries and Wages expense) for first half of month, $100. (g) Paid for advertising, $90. (h) Paid two-year premium for liability insurance on van, $480. (i) Received cash from clients for services performed, $800. (j) Performed cleaning services for clients on account, $500. (k) Paid phone bill, $40. (l) Received cash from clients for window cleaning performed on account in transaction (j), $200. (m) Paid part-time assistant for last half of month, $200. (n) Made partial payment on computer equipment purchased in transaction (d), $200. (o)…