Marcum Company was started in 2012 when it was
issued a note to borrow $6,200
Required
Write an...

Question

Marcum Company was started in 2012 when it was
issued a note to borrow $6,200
Required
Write an accounting equation, and record the effects
of the borrowing transaction under the appropriate general ledger account
headings.

Robert · Accepted Answer

SOLUTION: 
Accounting Equation: 
Assets = Liabilities + Capital 
Increase in Cash by $6,200 = Increase in Notes Payable $6,200 + Capital.

Marcum Company was started in 2012 when it was issued a note to borrow $6,200 Required Write an accounting equation, and record the effects of the borrowing transaction under the appropriate general...

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