Tom Slater opened an accounting firm on March 1,2010. During the month of March, the business completed
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Tom Slater opened an accounting firm on March 1,2010. During the month of March, the business completed the following transactions:
Requirements 1. Open, or set up, the following T-accounts: Cash, Accounts Receivable, Supplies, Furniture, Land, Accounts Payable, Common Stock, Dividends, Service Revenue, Salary Expense, and Rent Expense.
2. Journalize transactions. Explanations are not required.
3. Post the transactions to the T-accounts, using transaction dates as posting references.
4. Calculate the balance in each account.
5. Prepare the trial balance for Slater & Associates, Inc., at the end of March.
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