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Accounting Review

Robin: Robin
Horizontales
Account we debit when we buy merchandise
AP and Salaries payable are __________
usual account adjusted if we pay an AP off in the first 10 days
Close Revnue accounts to _________ ___________
Our credit if we sell murchandise
Capital is a(n) _______ _______ account
current assets can be turned into cash within ___ ____
Sales Discounts is a(n) _________Revenue account
Verticales
Close ________ to Capital Account
Revenue has a normal _______ balance
We journalize ___________ to show what we have used during the past month
Assets have a normal _______ balance
Revenue belongs on this financial statement
Cash and AR are examples of ________ _________
is one long spreadsheet that shows the progression during the time period
Credit this to pay a liability