Business Finance Homework Help

Read the textbook, lecture notes and all other posts BEFORE you post. Using a current or prior place of work as an example business, discuss ONE typical business transaction and how to record it with a journal entry. Please address the following points:

1. Describe the transaction (if another student has already used your transaction, please choose a different one).

2. What account should be DEBITED, and for how much money?

3. What account should be CREDITED, and for how much money?

Be specific and provide detail. If you are unfamiliar with real life examples, you are free to use a hypothetical business that operates in an industry that interests you. We will continue to dig into your example during the week.