FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Financial Transaction Analysis
The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business…
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answer in text form please (without image), Note: .Every entry should have narration please
Journalize the following transactions for the Eagle Company assuming perpetual inventory system. 1. Sells merchandise for $456. Cost of merchandise sold $300. 2. Sells merchandise for $333 and accepts VISA as the form of payment. Cost of merchandise sold $212. 3. Sells merchandise on account for $567. Cost of merchandise sold $387. 4. Credit card fees paid for the month is $98.
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Transcribed Image Text:Journalize the following transactions for the Eagle Company assuming perpetual inventory system. 1. Sells merchandise for $456. Cost of merchandise sold $300. 2. Sells merchandise for $333 and accepts VISA as the form of payment. Cost of merchandise sold $212. 3. Sells merchandise on account for $567. Cost of merchandise sold $387. 4. Credit card fees paid for the month is $98.
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