Transaction: On April 1, the business, Count-On-Us Pty Ltd, received prepayment from a customer of $200 for registration to an online accounting conference event to be delivered in July. The cash receipt was recorded as a liability. Instructions: Record the transaction in the general journal by selecting the correct accounts that are debited and credited.
Transaction: On April 1, the business, Count-On-Us Pty Ltd, received prepayment from a customer of $200 for registration to an online accounting conference event to be delivered in July. The cash receipt was recorded as a liability. Instructions: Record the transaction in the general journal by selecting the correct accounts that are debited and credited.
Chapter5: Operating Activities: Purchases And Cash Payments
Section: Chapter Questions
Problem 2.1C
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Transaction: On April 1, the business, Count-On-Us Pty Ltd, received prepayment from a customer of $200 for registration to an online accounting conference event to be delivered in July. The cash receipt was recorded as a liability.
Instructions: Record the transaction in the general journal by selecting the correct accounts that are debited and credited.
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