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Question & Answer: CHAPTER 5-General Accounting and End-of-Period Procedures FILL-IN IN THE SPACE PROVIDED, WRITE THE ANSWER THAT MOST APPR…..

CHAPTER 5-General Accounting and End-of-Period Procedures FILL-IN IN THE SPACE PROVIDED, WRITE THE ANSWER THAT MOST APPROPRIATELY 309 COMPLETES THE SENTENCE. 1. In a sole proprietorship, an owners paycheck is considered a(n) 2. In Your Names Beach Barkers the entry to transfer Net Income to Capital is made by debiting and crediting 3. The -basis of accounting records income or revenue at the time cash is received and expenses at the time they are paid. 4. A is prepared to record an automatic loan payment from the bank. After removing the date prepared, time prepared, and report basis from a report footer you click the 5. button to save the change for future reports.

CHAPTER 5-General Accounting and End-of-Period Procedures FILL-IN IN THE SPACE PROVIDED, WRITE THE ANSWER THAT MOST APPROPRIATELY 309 COMPLETES THE SENTENCE. 1. In a sole proprietorship, an owner’s paycheck is considered a(n) 2. In Your Name’s Beach Barkers the entry to transfer Net Income to Capital is made by debiting and crediting 3. The -basis of accounting records income or revenue at the time cash is received and expenses at the time they are paid. 4. A is prepared to record an automatic loan payment from the bank. After removing the date prepared, time prepared, and report basis from a report footer you click the 5. button to save the change for future reports.

Expert Answer

 

1) Draw

2) Income summary and Capital account

3) Cash

4) Bank reconciliation

5) save

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