FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Transcribed Image Text:Q2. Provide an example of each title here and then record the journal entries.
Following the first given answer.
1-Providing consulting services receiving cash.
Given answer:
ABC company provides consulting services and receives 1,000 cash.
Journal entry:
Dr.Cash. 1,000
Cr. Consulting Revenue. 1,000
2-Investment by an owner.
3-Purchasing equipment for cash.
4-Purchasing supplies on credit.
5-Borrowing money from a bank.
6-Paying investors their shares of dividends.
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