Accounting – 10/01/19

I.  Bellwork: Questions & Answers
 A. When you make a sale on account, what is the account

Debited

Credited

B. When you make a cash sale, what is the account

Debited

Credited

C. When an owner withdraws cash, what is the account  

Debited

Credited

 II.  Objectives

  • Analyze and record transactions that affect owner’s equity.
  • Analyze and record sales and receipts of cash on account
  • Utilize the 4-step process to record entries on the general journal

III.  Discussion:  PPT Chapter 3 on iLearn

  • Transactions Affecting Owner’s Equity

IV.   Classwork: Page 75

Watch the video below & Add this to your sheet

3-3 Working Together Video

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

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