Four transactions that occurred during May are listed below. a. May 5: Borrowed cash of $20,000 from
Question:
a. May 5: Borrowed cash of $20,000 from Middle State Bank
b. May 10: Made cash sales of $14,500 to customers
c. May 19: Paid salaries of $8,600 to employees for services performed
d. May 22: Purchased and used $4,100 of supplies in operations of the business
Required:
Prepare journal entries for the transactions.
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Date Description Debit Credit May 5 Cash 20000 Notes Payable 20000 ...View the full answer
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Related Book For 
Cornerstones of Financial and Managerial Accounting
ISBN: 978-1111879044
2nd edition
Authors: Rich, Jeff Jones, Dan Heitger, Maryanne Mowen, Don Hansen
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