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I'm writing a financial statement for my accounting course, and one of the transactions I saw is: July 5th: "Go Daddy shows july Computing cost to be $150 dollars, and Company A (The Company in question) has a account credit balance of $100".
Does this mean $150 Dollars are considered an expense, and $100 are also an expense? (Both to be shown in the expense section for financial statements? I'm confused with the wording.
Any help would be much appreciated.
Does this mean $150 Dollars are considered an expense, and $100 are also an expense? (Both to be shown in the expense section for financial statements? I'm confused with the wording.
Any help would be much appreciated.