Post the following transactions to the Cash T-account and calculate the ending balance. The beginning balance in
Question:
Post the following transactions to the Cash T-account and calculate the ending balance. The beginning balance in the Cash T-account is $5,000.
1. Receive cash from customers, $15,000.
2. Pay cash for employee salaries, $9,000.
3. Pay cash for rent, $3,000.
4. Receive cash from sale of equipment, $8,000.
5. Pay cash for utilities, $1,000.
6. Receive cash from a bank loan, $4,000.
7. Pay cash for advertising, $7,000.
8. Purchase supplies on account, $3,000.
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Transaction 8 is not posted to th...View the full answer
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