Match the qualitative characteristics of accounting information with the given statements

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Chapter 2, Problem 9BE

To determine

Match the qualitative characteristics of accounting information with the given statements

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Required information Problem 3-9A (Algo) Complete the full accounting cycle (LO3-3, 3-4, 3-5, 3-6, 3-7) [The following information applies to the questions displayed below.] The general ledger of Zips Storage at January 1, 2024, includes the following account balances: Accounts Cash Accounts Receivable Prepaid Insurance Land Accounts Payable Deferred Revenue Common Stock Retained Earnings Totals Debits $25,000 Credits 15,800 12,800 152,000 $7,100 6,200 147,000 45,300 $205,600 $205,600 The following is a summary of the transactions for the year: 1. January 9 2. February 12 3. April 25 4. May 6 5. July 15 6. September 10 7. October 31 8. November 20 9. December 30 Provide storage services for cash, $138,100, and on account, $54,200. Collect on accounts receivable, $51,900. Receive cash in advance from customers, $13,300. Purchase supplies on account, $10,000. Pay property taxes, $8,900. Pay on accounts payable, $11,800. Pay salaries, $127,600. Issue shares of common stock in exchange for…