Question: T T Towing Service Inc earns service revenue by

T & T Towing Service, Inc. earns service revenue by towing vehicles for CAA. T & T Towing Service’s main expenses are the salaries paid to its employees. Account for the following transactions in the expanded accounting equation:
a. T & T Towing Service, Inc. earned $14,000 of service revenue on account.
b. T & T Towing Service, Inc. paid $8,000 in salaries expense.

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  • CreatedJuly 08, 2015
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