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The following transactions took place for Xiu Xiu Company during June 2018:
(a) Purchased equipment on account for $9,000.
(b) Billed customers $5,000 for services performed.
(c) Made payment of $2,300 on account for equipment purchased earlier in month.
(d) Collected $2,900 on customer accounts.
1. What is the balance in Accounts Payable at June 30, 2018?
2. What is the balance in Accounts Receivable at June 30, 2018?
Hypothesis
A proposed explanation for a phenomenon, made as a starting point for further investigation, testing, or experimentation.
Informative
Providing useful or important information or details.
Assumptions
Statements or ideas accepted as true without proof, used as the basis for reasoning or argumentation.
Explanandum
The phenomenon or event that is to be explained, often used in the context of scientific inquiry.
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