Read Each of the Following Transactions

question 9

Essay

Read each of the following transactions. Determine the accounts to be debited and credited.
A)Collected cash in settlement of a $600 promissory note plus interest of $18.
B)Jaime Gomez, the owner, made an additional cash investment of $11,000.
C)Sold merchandise for $3,000 in cash plus sales tax of $210. There was a cash overage of $4.

• A)Collected cash in settlement of a $600 promissory note plus interest of $18.
• B)Jaime Gomez, the owner, made an additional cash investment of $11,000.
• C)Sold merchandise for $3,000 in cash plus sales tax of $210. There was a cash overage of $4.

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Definitions:

Jobs

Positions of employment where individuals engage in specific tasks or duties in exchange for compensation, such as wages or salaries.

Future

The time or a period of time following the moment of speaking or writing; time regarded as still to come.

Digital Infrastructure

The foundational digital networks, services, and technologies that support the functioning of a modern, digital society.

Presence

The state or fact of existing, occurring, or being present in a place or thing.