Question

The trial balance for ShirtCraft, Inc., at January 31 is shown as follows:
During February the following transactions occurred:
Feb. 1 Billed customers $2,500 for services rendered.
1 Paid $150 interest on note from bank.
4 Received $4,500 from customers billed in January.
8 Bought $560 of office supplies on account.
12 Completed a $3,500 service for which payment was received in January.
18 Paid $1,895 towards a January purchase of supplies on account.
26 Paid $1,000 in dividends to stockholders.
27 Paid $2,100 for February salaries and $775 for February utilities.
Required
a. Prepare opening T-accounts for the month of February.
b. Prepare journal entries for transactions in the month of February.


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  • CreatedJuly 16, 2015
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