Works Management

Cover Works Management
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Cr. Smith by invoice for desk, $50 Dr. Office Fixtures, 50 Dr. Smith to cash, 50 Cr. Cash, 50 Smith's account balances.
(11) We buy merchandise of T. Brown for $1000, giving a note.
Cr. Brown by invoice for mdse., $1000' Dr. Mdse., $1000 Dr. Brown to note, 1000 Cr. Notes Payable, 1000 Brown's account balances; our stock of merchandise is a resource, the note we have given is a liability.
' (HI) We sell $1500 worth of merchandise to A. Green for $200 cash and a note for $1300.
Cr. Mdse., $1500 D
...r. A. Green to mdse., $1500 Cr. A. Green by cash and note, 1500 Dr. Cash, 200 Dr. Notes Receivable, 1300 Green's account balances; we have a resource in the note receivable by us.
PRINCIPLES OF ACCOUNTING 141 (IV) We sell $200 worth of merchandise to R. Lee.
Cr. Mdse., $200 Dr. Lee, $200 Payment has not been made by Lee and his debt to us is a resource.
(V) We.pay the stenographer, Miss Kane, $15 — salary for one week.
Cr. Cash, $15 Dr. Miss Kane, $15 Miss Kane's services virtually balance her account; the tech- nical debit balance which appears is a loss or expense.


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