Question: Define a compound entry and provide an example. 16. Journalize the following business transactions. a. Wes Lee invests $7,000 cash in the business. b. Insurance

Define a compound entry and provide an example.

16. Journalize the following business transactions. a. Wes Lee invests $7,000 cash in the business. b. Insurance of $800 is paid for the year. c. Supplies of $2,000 are purchased on account. d. Cash of $8,500 is received for services performed

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