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Author Question: On June 30, 2011, Team Shirt purchased 500 of supplies for cash. Record this transaction. No ... (Read 45 times)

jjjetplane

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on: Jul 5, 2018
On June 30, 2011, Team Shirt purchased 500 of supplies for cash. Record this transaction. No references are needed.
 
  Date Transaction Debit Credit

Question 2

Gross profit minus selling expenses equals net income.
 a. True
  b. False
 
   Indicate whether the statement is true or false


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asdfasdf

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Reply #1 on: Jul 5, 2018
Answer to Question 1

Date Transaction Debit Credit
6/30/11 Supplies 500
Cash 500
To record the purchase of supplies

Answer to Question 2

False


jjjetplane

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Reply #2 on: Jul 5, 2018
Thank you :)


asdfasdf

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Reply #3 on: Jul 5, 2018
Happy to help you


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