question archive AP Fredo Industries had the following transactions
AP Fredo Industries had the following transactions
Subject:AccountingPrice:2.87 Bought7
AP Fredo Industries had the following transactions.
1. Borrowed $5,000 from the bank by signing a note.
2. Paid $2,500 cash for a computer.
3. Purchased $450 of supplies on account.
Instructions
a. Indicate what accounts are increased and decreased by each transaction.
b. Journalize each transaction. (Omit explanations.) Analyze transactions and journalize.
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