A & B Co. has the following accounts in its ledger: Cash; Accounts Receivable; Supplies; Office Equipment;

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A & B Co. has the following accounts in its ledger: Cash; Accounts Receivable; Supplies; Office Equipment; Accounts Payable; A & B, Capital; A & B, Withdrawals; Fees Earned; Rent Expense; Wages Expense; Telephone Expense; Miscellaneous Expense. Journalize the following selected transactions for November 2022 in a general journal. Journal entry explanations may be omitted.
2022
Nov.
1 Received an investment from the owner of A & B, $15,500.
1 Paid rent for the month of November, $1,750.
3 Purchased office equipment on account, $7,550.
5 Owner of A & B paid cash for their home cable bill, $250.
6 Paid cash for supplies, $350.
8 Paid telephone bill for the month, $190.
11 Fees earned and billed to customers, $15,500. $2,500 was received in cash and the remainder was charged on account.
15 Provided a quote to a customer for services totaling $1,550.
17 Received cash from customers for payment of account, $5,500.
19 Paid invoice from the purchase dated November 3.
22 Paid cash for miscellaneous items, $175.
25 Paid wages expense, $1,900.
30 Owner withdrew cash for personal use, $2,150.

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College Accounting A Practical Approach

ISBN: 9780135222416

14th Canadian Edition

Authors: Jeffrey Slater, Debra Good

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