Pina Colada Corp. had the following transactions.1. Borrowed $5,065 from the bank by signing a note.2. Paid $2,533 cash for a computer.3. Purchased $456 of supplies on account.(a) Indicate what accounts are increased and decreased by each transaction. Debit Analysis Account Names Credit Analysis Account Names1. select an effect on a basic account type enter a debit account title to record the first transaction select an effect on a basic account type enter a credit account title to record the first transaction 2. select an effect on a basic account type enter a debit account title to record the second transaction select an effect on a basic account type enter a credit account title to record the second transaction 3. select an effect on a basic account type enter a debit account title to record the third transaction select an effect on a basic account type enter a credit account title to record the third transaction

Name: Pina Colada Corp. had the following transactions.1. Borrowed $5,065 fr
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Description: Pina Colada Corp. had the following transactions.1. Borrowed $5,065 from the bank by signing a note.2. Paid $2,533 cash for a computer.3. Purchased $456 of supplies on account.(a) Indicate what accounts are increased and decreased by each transactio

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na Colada Corp. had the following transactions. 1. Borrowed $5,065 from the bank by signing a note. 2. Paid $2,533 cash for a computer. 3. Purchased $456 of supplies on account. (a) Indicate what accounts are increased and decreased by each transaction. Debit Analysis Account Names Credit Analysis Account Names 1. select an effect on a basic account type enter a debit account title to record the first transaction select an effect on a basic accou

na Colada Corp. had the following transactions. 1. Borrowed $5,065 from the bank by signing a note. 2. Paid $2,533 cash for a computer. 3. Purchased $456 of supplies on account. (a) Indicate what accounts are increased and decreased by each transaction. Debit Analysis Account Names Credit Analysis Account Names 1. select an effect on a basic account type enter a debit account title to record the first transaction select an effect on a basic accou

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter7: Accounting Information Systems

Section: Chapter Questions

Problem 1EB: For each of the following, indicate if the statement reflects an input component, output component,...

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(a)

Indicate what accounts are increased and decreased by each transaction.

	Debit Analysis	Account Names	Credit Analysis	Account Names
1.	select an effect on a basic account type	enter a debit account title to record the first transaction	select an effect on a basic account type	enter a credit account title to record the first transaction

2.	select an effect on a basic account type	enter a debit account title to record the second transaction	select an effect on a basic account type	enter a credit account title to record the second transaction

3.	select an effect on a basic account type	enter a debit account title to record the third transaction	select an effect on a basic account type	enter a credit account title to record the third transaction

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