Accounting – 9/26/19

I. Bellwork: Questions & Answers

  1. When an owner invests money into their company, what account is debited and what account is credited?
  2. When supplies are bought with cash, what account is debited and what account is credited?

II.  Objectives

  • Interpret financial transactions and prepare the related journal entries by applying the 4 steps to journalizing
  • Properly record accounting transactions in a journal in accordance to GAAP

III.  Classwork:  Page 64

  • 3-1 Working Together & On Your Own

Classwork/Homework- on Mindtap

  • 3-1 Working Together & On Your Own
  • 3-1 Application Problem

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