Balance of Debit & Credit Questions

Description

Read the textbook, lecture notes and all other posts BEFORE you post.  Using a merchandise business that interests you, create your own example of a SALES transaction by addressing the following points:

1.  Describe the seller and the product

2.  Describe the transaction, including the number of inventory units sold, cost per unit and sell price per unit

3.  What accounts should be DEBITED, and for how much money?

4.  What accounts should be CREDITED, and for how much money?

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