Below are the steps in the measurement process of external transactions. Arrange them from first (1) to last (6).
_____ (a) Post the transaction to the T-accounts in the general ledger.
_____(b) Assess whether the impact of the transaction results in a debit or credit to the account balance.
_____(c) Use source documents to identify accounts affected by external transactions.
_____(d) Analyze the impact of the transaction on the accounting equation.
_____(e) Prepare a trial balance.
_____(f) Record transactions using debits and credits.
147. A company received a utility bill of $600 but did not pay it. Indicate the amount of increases and decreases in the accounting equation.
148. A company purchases supplies on account for $1,700. Indicate the amount of increases and decreases in the accounting equation.
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