Buying equipment with Cash 1 Equipment (Asset) Cash (Asset) + - Debit Credit Debit Credit.

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Presentation transcript:

Buying equipment with Cash 1 Equipment (Asset) Cash (Asset) + - Debit Credit Debit Credit

Bought supplies on account 2 Supplies (Asset) Accounts Payable (Liability) + + Debit Credit Debit Credit

Earned revenue from cash customers 3 Cash (Asset) Revenue ( Revenue ) + + Debit Credit Debit Credit

Earned revenue on account 4 Accounts Receivable (Asset) Revenue ( Revenue ) + + Debit Credit Debit Credit

Paid account payable 5 Accounts Payable (Liability) Cash( Asset ) - - Debit Credit Debit Credit

Earned revenue from cash customers 6 Cash (Asset) Revenue ( Revenue ) + + Debit Credit Debit Credit

Received utility bill that we’ll pay next month 7 Utilities Expense (expense) Accounts Payable (liability) + + Debit Credit Debit Credit