Based upon the T accounts in Exercise 2-13, prepare the nine journal entries from which the postings
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Based upon the T accounts in Exercise 2-13, prepare the nine journal entries from which the postings were made. Journal entry explanations may be omitted.
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Equipment 14,500 Lorene Jones, Drawing (9) 3,000 Cash (2) 2,500 (3) (1) (7) 40,000 8,700 (3) 4,000 4,850 (4) (6) (9) 5,500 3,000 Service Revenue (5) Accounts Receivable Accounts Payable 5,500 (3) 13,800| (7) 8,700 (6) 13,800 (5) 10,500 Lorene Jones, Capital (1) Operating Expenses 4,850 Supplies (8) 2,500 (2) 40,000 (4) (8) 1,100 1,100
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Cash 40000 Lorene Jones Capital 40000 2 Supplies 2500 ...View the full answer
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Related Book For
Financial Accounting
ISBN: 978-1305088436
14th edition
Authors: Carl S. Warren, Jim Reeve, Jonathan Duchac
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A journal entry is an act of keeping or making records of any transactions either economic or non-economic. Transactions are listed in an accounting journal that shows a company\'s debit and credit balances. The journal entry can consist of several recordings, each of which is either a debit or a credit
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