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Business, 20.09.2020 15:01 BIKRAMlawati5544
Daniels Company made the following selected transactions during May:1. Received cash from sale of stock, $55,0002. Paid creditors on account, $7,0003. Billed customers for services on account, $2,5654. Received cash from customers on account, $8,4505. Paid dividends to stockholders, $2,5006. Received the utility bill, $160, to be paid next monthIndicate the effect of each transaction on the accounting equation by:a) Account type - (A)assets, (L)liabilities, (SE)stockholders' equity, (R)revenue, and (E)expenseb) Name of accountc) The amount by of the transactiond) The direction of change (increase or decrease) in the account affectedNote: Each transaction has two entries.
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Daniels Company made the following selected transactions during May:1. Received cash from sale of st...
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