Analyzing Business Transactions entered in a General Journal (after Unit 1)
Please use the general journal provided by your instructor to answer the following questions for EACH journal entry below. Please write in complete sentences. Proofread before you submit.
• What accounts are affected – include date of transaction?
• What is the classification of each account?
• What is the normal balance side of each account?
• What is the actual business transaction (include date)?
• Describe what account you would debit and include the amount.
• Describe what account you would credit and include the amount.
• Explain the source document used for the transaction.
• Expand further with your response stating at least one accounting
concept(s) and/or accounting rules.
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