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LESSON 1-3

LESSON 1-3. How Transactions Change Owner’s Equity in an Accounting Equation. Transaction 6 August 12. Received cash from sales, $295.00. REVENUE TRANSACTIONS. page 14. Transaction 7 August 12. Sold services on account to Oakdale School, $350.00.

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LESSON 1-3

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  1. LESSON 1-3 How Transactions Change Owner’s Equity in an Accounting Equation

  2. Transaction 6 August 12. Received cash from sales, $295.00. REVENUE TRANSACTIONS page 14 Transaction 7 August 12. Sold services on account to Oakdale School, $350.00. LESSON 1-3

  3. Transaction 8 August 12. Paid cash for rent, $300.00. EXPENSE TRANSACTIONS page 15 Transaction 9 August 12. Paid cash for telephone bill, $40.00. LESSON 1-3

  4. Transaction 10 August 12. Received cash on account from Oakdale School, $200.00. OTHER CASH TRANSACTIONS page 16 Transaction 11 August 12. Paid cash to owner for personal use, $125.00. LESSON 1-3

  5. TERMS REVIEW page 17 • revenue • sale on account • expense • withdrawals LESSON 1-3

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