Exercise 2-6
Konerko Industries had the following transactions.
1. Borrowed py 50,000 from the bank by signing a note.
2. Paid py 25,000 cash for a computer.
3. Purchased py 7,000 of supplies on account.
Instructions
(a) Indicate what accounts are increased and decreased by
each transaction.
(b) Journalize each transaction. (Omit explanations.)
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