Answered: the charts of account classify the…

the charts of account classify the accounts to make identification of the accounts easier. discuss how companies set up their chart of account for use in their business

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter3: Analyzing And Recording Transactions

Section: Chapter Questions

Problem 6Q: What is the effect on the accounting equation when a business purchases supplies on account?

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