Chapter 2 Transaction Analysis Short Exercises (5 min.) S 2-1 Hortons payment was non an expense. Horton acquired an asset, Equipment, because the computer is an economic resource of the business. (5 min.) S 2-2 a.$14,800 ($13,000 + $1,800 + $4,000 ? $4,000) b.$ 1,800 (5-10 min.) S 2-3 | bills | | | | | |DATE |ACCOUNT TITLES AND EXPLANATION |DEBIT |CREDIT | | | | | | | |Jul. |15 |Cash |34,000 | | | | | Note Payable | |34,000 | | | |Borrowed money from the bank.
! | | | | | | | | | | |22 |Accounts due. |8,500 | | | | | Service Revenue. | |8,500 | | | |Performed service on account. | | | | | |...If you want to embark a full essay, order it on our website: OrderCustomPaper.comIf you want to get a full essay, visit our page:
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