Essay
For each of the following transactions, indicate the type by entering AS for asset source transactions, AU for asset use transactions, AE for asset exchange transactions, and CE for claims exchange transactions.Paid $2,000 in dividends to its stockholders.Recorded the accrual of $1,000 in salaries to be paid later.Issued common stock for $20,000 in cash.Earned revenue to be collected next year.Paid the salaries accrued in number 2 above.Received cash from customers in number 4 above.Purchased supplies on account.Received $500 from a customer for services to be provided later.
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1. AU, 2. CE 3. AS, 4. AS, 5. AU, 6. AE,...View Answer
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