Business, 27.06.2020 15:01 zgueyeu

When a debtor buys on account do we record this transaction in the debtors journal

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Business, 22.06.2019 21:10, winterblanco

The blumer company entered into the following transactions during 2012: 1. the company was started with $22,000 of common stock issued to investors for cash. 2. on july 1, the company purchased land that cost $15,500 cash. 3. there were $700 of supplies purchased on account. 4. sales on account amounted to $9,500. 5. cash collections of receivables were $5,500. 6. on october 1, 2012, the company paid $3,600 in advance for a 12-month insurance policy that became effective on october 1. 7. supplies on hand as of december 31, 2010 amounted to $225. the amount of cash flow from investing activities would be:

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When a debtor buys on account do we record this transaction in the debtors journal...