Prepare journal entries and post to T accounts the following transactions
Prepare journal entries and post to T-accounts the following transactions of Toronto Building Supplies:
a. Cash sales, $10,000; items sold cost $4,500
b. Collections on accounts, $8,500
c. Paid cash for wages, $3,500
d. Acquired inventory on open account, $5,000
e. Paid cash for janitorial services, $550

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