For Each of the Following Economic Events Determine Whether the Event

question 61

Essay

For each of the following economic events determine whether the event is a business transaction on the date it occurs and whether it's recognized in the accounts on that date.Support your answer.
a On July 15,the controller of Kona Corporation orders a custom display case for the company's store.
b.On July 31,a new administrative assistant is hired at a monthly salary of $3,500.
c.On July 31,the controller of Kona Corporation receives a bill for electricity for the month of July.The bill is due on August 18 and will be paid on that date.

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