Suppose that jack, sophia, and hal enter into a contract to close on the business without the non-competition agreement. jack states that he would probably sign the non-competition agreement if they included an extra $100,000. a month later, hal and sophia bring jack $100,000. what is the result?

Below are the steps in the measurement process of external transactions. arrange them from first (1) to last (6). event step post transactions to the general ledger. assess whether the transaction results in a debit or credit to account balances. use source documents to identify accounts affected by an external transaction. analyze the impact of the transaction on the accounting equation. prepare a trial balance. record the transaction in a journal using debits and credits.