The following information was taken from the personal records of Justin Knight on May 31, 2021....

 

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The following information was taken from the personal records of Justin Knight on May 31, 2021. Opening Balances Cash $3,900 Computer $2,400 House $196,500 Mortgage $103,400 Net Worth $99,400 The following transactions occurred during the month of June 2021. 1) Earned monthly salary of $5,060. 2) Paid $1,210 cash for miscellaneous expenses. 3) Purchased an automobile worth $9,620 on account. 4) Paid $780 cash for entertainment expenses. 5) Paid $410 cash for hydro. Do not enter dollar signs or commas in the input boxes. The T-Account fields are labeled by transaction number. Record each transaction by entering the value into the corresponding T- Account field. Required a) Complete the Cash T-Account to determine the ending balance of cash. Increase Cash Opening Balance Decrease The following information was taken from the personal records of Justin Knight on May 31, 2021. Opening Balances Cash $3,900 Computer $2,400 House $196,500 Mortgage $103,400 Net Worth $99,400 The following transactions occurred during the month of June 2021. 1) Earned monthly salary of $5,060. 2) Paid $1,210 cash for miscellaneous expenses. 3) Purchased an automobile worth $9,620 on account. 4) Paid $780 cash for entertainment expenses. 5) Paid $410 cash for hydro. Do not enter dollar signs or commas in the input boxes. The T-Account fields are labeled by transaction number. Record each transaction by entering the value into the corresponding T- Account field. Required a) Complete the Cash T-Account to determine the ending balance of cash. Increase Cash Opening Balance Decrease

Answer rating: 100% (QA)

Answer a Completing the Cash TAccount Transaction 1 Ear... View the full answer