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Below are the steps in the measurement process of external transactions Arrange them from first

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.

Jan 27 2020 View more View Less

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