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Eight Transactions Are Recorded in the Following T Accounts

Question 61

Essay

Eight transactions are recorded in the following T accounts: Eight transactions are recorded in the following T accounts: Indicate for each debit and each credit: a. whether an asset, liability, capital, drawings, revenue, or expense account was affected and b. whether the account was increased (+) or decreased (-). Answers should be presented in the following chart form: Indicate for each debit and each credit:
a. whether an asset, liability, capital, drawings, revenue, or expense account was affected and
b. whether the account was increased (+) or decreased (-).
Answers should be presented in the following chart form:
Eight transactions are recorded in the following T accounts: Indicate for each debit and each credit: a. whether an asset, liability, capital, drawings, revenue, or expense account was affected and b. whether the account was increased (+) or decreased (-). Answers should be presented in the following chart form:

Correct Answer:

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