Which of the following events would be recognized and entered in the accounting records of Kazuo Company? Why?  Jan. 10 Kazuo Company places an order for office supplies. Feb. 15 Kazuo Company receives the office supplies and a bill for them. Mar. 1 Kazuo Company pays for the office supplies.

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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