You are believer that new employees should practice their accounting skills before “throwing them into the fire.” Therefore, you have listed a series of transactions that require journal entries and updating of T-Accounts.
You know that preparing nonprofit journal entries are easy, so you ask the new employee to
Please submit your assignment.
The following grading criteria will apply to this assignment:
For Transaction 1, prepare, side by side, the correct journal entry for a nonprofit entity and a for-profit company.
For Transaction 2, prepare, side by side, the correct journal entry for a nonprofit entity and a for-profit company 1.
For Transaction 3, prepare, side by side, the correct journal entry for a nonprofit entity and a for-profit company.
All Notes in the journal entries are correct.
For assistance with your assignment, please use your text, Web resources, and all course materials.
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