In: Computer Science
You are given the following information for Thrice Corp.: Decrease in inventory $ 590 Decrease in accounts payable 245 Increase in notes payable 230 Increase in accounts receivable 260
Thrice Corp.:
1) Decrease in inventory $ 590
Debit in of solds $590
Credit in Inventory $590
2) Decrease in accounts payable
Debit in Accounts payable $245
Credit in cash or equivalents $245
3) Increase in notes payable 230
Debit in Expenses. $230
Credit in Notes payables. $230
4) Increase in accounts receivable 260
Debit Account receivable. $260
Credit Income. $260