For each of the transactions below, record whether it would result in an increase or decrease...

For each of the transactions below, record whether it would result in an increase or decrease in assets, liabilities, and net assets.

An organization:

Earns revenue

Receives a donor pledge

Purchases supplies with cash

Purchases supplies on account

Takes out a loan

Repays loan principal

Receives payment on a pledge

Makes a payment on an amount it owes

Prepays for insurance

Uses prepaid insurance

Uses supplies

Uses a capital asset

Receives cash in advance of providing goods or services goods or services to a client.

Provides goods and services to a client in exchange for a cash payment that was made in advance.

Employs workers who earn wages

Pays employee wages that have been earned

Deems a portion of a pledge is uncollectible

Pays interest on a loan

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jeff jeffy answered 1 year ago

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