Requirement 1 and 3
Accounting Cycle: The accounting cycle refers to the entire process of recording the accounting transactions of an organization and then processing them. The accounting cycle starts when a transaction takes places and it ends at the time when these transactions are recorded in the financial statements of the company.
To Open: Four - column general ledger accounts using O’s account numbers and balances as of July 31, 2016.
Requirement 2 and 3:
To Record: The transactions in a sales receipts journal.
Requirement 4
To Prepare: An unadjusted
Requirement 5
To Journalize: The
Requirement 7:
To Prepare: An income statement.
Requirement 9:
To Prepare: Post closing trial balance.
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