1. JOURNAL ENTRIES: LIABILITES, OWNERS EQUITY, AND REVENUE TO INCREASE A LIABILITY, OWNERS EQUITY OR REVENUE ACCOUNT IT IS CREDITED TO DECREASE ONE OF THEM IT IS DEBITED Liability, Owner’s Equity, or Revenue (-) Decreases Account(+) Increases Account

2. COMMON LIABILITY ACCOUNTS ACCOUNTS PAYABLE INTEREST PAYABLE TAXES PAYABLE WAGES PAYABLE NOTES PAYABLE BONDS PAYABLE

3. OWNER EQUITY ACCOUNTS COMMON STOCK RETAINED EARNINGS

4. REVENUE ACCOUNTS SALES

5. EXAMPLES OWNERS INVESTED $10,000 INTO THE COMPANY FOR COMMON STOCK CASH $10,000 COMMON STOCK $10,000

6. MONEY WAS BORROWED $10,000 WAS BORROWED ON A NOTE CASH $10,000 NOTES PAYABLE $10,000

7. THERE WERE CASH SALES THERE WERE CASH SALES OF $10,000 CASH $10,000 SALES $10,000