Ouro Johnson has the following transactions during August of the current year. Indicate (a) The basic analysis

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Ouro Johnson has the following transactions during August of the current year. Indicate (a) The basic analysis and (b) the debit–credit.

Journalize the transactions.

August

1 ....Opens an office as a travel agent, investing $25,000 in cash in exchange for common stock

4 ....Pays insurance in advance for 6 months, $1,200

16 ....Receives $5,000 from clients for arranging travel services

27 ....Pays secretary $1,500 salary

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Hospitality Financial Accounting

ISBN: 978-0470083604

2nd Edition

Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Agnes L.

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Question Posted: Feb 06, 2013 06:17 AM

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Ouro Johnson has the following transactions during August of the current year. Indicate (a) The basic analysis

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a Basic Analysis b DebitCredit Analysis Aug 1 The asset Cash is increased the stockholders equit...View the full answer

Hospitality Financial Accounting

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