Journalize the following transactions in the sales journal or general journal for Moss Company.  Record in the accounts receivable subsidiary ledger and to post to general ledger accounts as appropriate.  Use the same journal headings that we used for Art's Clothing Company.  (All sales carry credit terms of 2/10, n/30.) DO NOT RECORD DISCOUNT.  RECORD THE FULL ACCOUNTS RECEIVABLE BALANCE. 2021 May 1 S

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Financial Transaction Analysis

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business, at least two accounts should be affected I.e. both the debit side and the credit side should be equal. The Accounting Equation is