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Hello. I am needing help with this discussion board. You will not need to log into a portal as I will transfer the assignement to the discussion board. Posting should follow apa guidelines with in text citations and references. References must be scholar references with an author and CANNOT BE FROM SITES SUCH AS WIKIPEDIA, EHOW, DICTIONARIES OR SIMILIAR SITES. All that is needed for this assignment is the body portion detailing the assignment and references. Title page, conclusion are NOT applicable. I know this is last minute however any help would be appreciated at a reasonable offer. I am new to accounting and not quite understanding this. PLEASE COMPLETE ASSINGMENT USING MS WORD ONLY AS THIS IS HOW THE INSTRUCTOR IS REQUESTING THIS AND ONE PAGE ONLY. THANK YOU.
Your father runs a small auto body shop. He has decided to computerize his records and has asked you to explain the basics of accounting to him so that he can enter the data into his accounting software.
Explain to him the rules of debits and credits for the balance sheet and income statement.
Provide examples from the manufacturing industry of:
a journal entry that would be recorded that impacts the balance sheet.
a journal entry that would be recorded affecting the income statement.
Please provide the assumptions behind the transactions and the full journal entries.
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