The following T-accounts reflect seven different transactions that Rodman Container Company entered into during 2017: REQUIRED: For
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REQUIRED:
For each transaction, describe what occurred and how it affected the accounting equation.
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Accounts Receivable (a) 21,000 Cash Equipment (a) 7,000 (1) (d) 50,000 (c) (d) 20,000 1,200 (1) 2,000 5,000 5,000 (g) 25,000 (e) Notes Payable (d) 30,000 Accounts Payable Inventory (c) 2,000 (b) 6,000 (b) 6,000 Common Stock Rent Expense Sales Revenue (g) 25,000 (e) (a) 28,000 1,200
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a Sold services worth 28000 received 7000 cash and an account receivable for the balance of 21000 As...View the full answer
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