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Demonstration Problem G Bell a Fitness Enthusiast Buys an Existing Exercise Center Body Firm the Following Chart of Accounts Now  Form

Demonstration Problem G Bell a Fitness Enthusiast Buys an Existing Exercise Center Body Firm the Following Chart of Accounts Now Form

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[Music] short exercise 2-11 we're going to create a chart of accounts so raymond autobodyshop has the following accounts in no particular order so we're going to create a chart of accounts for the company using the standard numbering system each account is separated by a factor of 10. so if like cash is 100 then the next account would be 110 and the reason you try to leave numbers in between is in case later you have to add accounts in between them for example the first asset account will be a hundred and the next asset will be 110 which would mean the next one is 120. use the first available line under each section asset library etc when selecting the accounts in other words when we're doing our liabilities don't put the first liability here if a box is not used leave it empty all right so let's find our assets we have a maximum of three assets just because there's three lines doesn't mean we have to fill them all so accounts pay

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