Problem 3.8B Blind River, Inc. - Edubirdie

University:
Michigan State University
Course:
ACC 300 | Intermediate Financial Accounting I
Academic year:

2021
Views:

39

Pages:

1
Author:

Carissa Thomas

PROBLEM 3.8B BLIND RIVER, INC. 10 Minutes, Difficult Error Recorded the issuance of capital stock by debiting Dividends and crediting Cash. Net Income Recorded the payment of an account payable by debiting Cash and crediting Accounts Receivable. Recorded the collection of an outstanding account receivable by debiting Service Revenue and crediting Cash. Recorded client billings on account by debiting Accounts Payable and crediting Cash. Recorded the payment of an outstanding dividend payable by debiting Dividends and creditin g Cash. Recorded the payment of salaries payable by debiting Salaries Expense and crediting Salaries Pa yable. Recorded the purchase of office supplies on account by debiting Rent Expense and crediting Office Supp lies. P3.8B Total Assets Total Liabilities Owners' Equity NE U NE U NE O O NE U U NE U U U U U NE NE O U U O O U U U U U

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