Question

Jefferson Framers engaged in the following transactions:
a. Purchased land for $15,200 cash
b. Purchased equipment for $23,600 in exchange for a one-year, 8 percent note payable
c. Purchased office supplies on credit for $1,200 from Office Depot
d. Paid the $10,000 principal plus $700 interest on a note payable
e. Paid an account payable in the amount of $2,600
f. Provided $62,100 of services on credit
g. Provided $11,400 of services for cash
h. Collected $29,800 of accounts receivable
i. Paid $13,300 of wages in cash
j. Sold common stock for $21,000 cash
Required:
Using a table like the one below, enter the necessary information for each transaction. Enter the debits before the credits. Transaction a is entered as an example.


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  • CreatedSeptember 22, 2015
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