Blanton Glass Etching, Inc., owns shops in outlet malls. The business completed the following transactions during June:
Question:
Blanton Glass Etching, Inc., owns shops in outlet malls. The business completed the following transactions during June:
Blanton uses the following accounts: Cash, Supplies, Land, Accounts Payable, Notes Payable, Common Stock, Dividends, Service Revenue, Salary Expense, Rent Expense, and Advertising Expense.
Required
1. Journalize each transaction. Explanations are not required. (pp. 72-77)
2. Prepare T-accounts for Cash, Accounts Payable, and Notes Payable. Post to these 3 accounts.
3. After these transactions, how much cash does the business have? How much does it owe in total liabilities?
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Related Book For
Financial Accounting
ISBN: 978-0135012840
7th edition
Authors: Walter T. Harrison, Charles T. Horngren
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