Financial Statement prepared revenue Accounts Payable and Expenses Increase expenses salary expense closed cash payment on a note from the bank revenues closed A compound entry Accounts Payable cash - adjusted to match the bank statement Transaction occur Cash accounts receivables dr. supplies expense cr. supplies credit side Book of final entry Journal entries are recorded Postings are made to the general ledger Cash and Revenue Provided Consulting services for cash Assets and Liabilities dr. rent expense cr. prepaid rent Cash and Accounts Receivable Received utility bill Assets and Owner’s Equity Financial Statement prepared revenue Accounts Payable and Expenses Increase expenses salary expense closed cash payment on a note from the bank revenues closed A compound entry Accounts Payable cash - adjusted to match the bank statement Transaction occur Cash accounts receivables dr. supplies expense cr. supplies credit side Book of final entry Journal entries are recorded Postings are made to the general ledger Cash and Revenue Provided Consulting services for cash Assets and Liabilities dr. rent expense cr. prepaid rent Cash and Accounts Receivable Received utility bill Assets and Owner’s Equity
(Print)
Financial Statement prepared
revenue
Accounts Payable and Expenses
Increase expenses
salary expense closed
cash payment on a note from the bank
revenues closed
A compound entry
Accounts Payable
cash - adjusted to match the bank statement
Transaction occur
Cash
accounts receivables
dr. supplies expense
cr. supplies
credit side
Book of final entry
Journal entries are recorded
Postings are made to the general ledger
Cash and Revenue
Provided Consulting services for cash
Assets and Liabilities
dr. rent expense
cr. prepaid rent
Cash and Accounts Receivable
Received utility bill
Assets and Owner’s Equity
