In the Excel,or spreadsheet,approach to recording financial transactions,any transactions involving sales or expenses will be recorded in the Net Income column of the balance sheet.

Question

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In the Excel or spreadsheet approach to recording financial transactions, the income and expenses are recorded in the Income Statement, not in the Net Income column of the Balance Sheet. The Balance Sheet only shows the financial position of the company at a specific point in time, including the assets, liabilities, and equity.

In the Excel,or Spreadsheet,approach to Recording Financial Transactions,any Transactions Involving