Prepare journal entries to record the following August 2017 transactions of a new business called The Pixel

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Prepare journal entries to record the following August 2017 transactions of a new business called The Pixel Shop.
Aug.
1. Joseph Eetok, the owner, invested $20,000 cash and photography equipment with a fair value of $42,000.

1. Rented a studio, paying $12,000 for the next three months in advance.

5. Purchased office supplies for $1,800 cash.

20. Received $9,200 in photography revenue.
31. Paid $1,400 for August utilities.

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Fundamental Accounting Principles Volume 1

ISBN: 9781259259807

15th Canadian Edition

Authors: Kermit Larson, Tilly Jensen, Heidi Dieckmann

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Question Posted: Jun 29, 2018 01:09 AM

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Prepare journal entries to record the following August 2017 transactions of a new business called The Pixel

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General Journal Page G1 Date Account Titles and Explanation PR Debit Credit 2017 Aug 1 Cash 101 ...View the full answer

Fundamental Accounting Principles Volume 1

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