Nelson Company began operations on December 1, Year 1. The following transactions and adjustments were recorded in
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Question:
Nelson Company began operations on December 1, Year 1. The following transactions and adjustments were recorded in December and posted to the company’s ledger accounts:
5) Purchased $450 of supplies on account to be used in January
1.1) Acquired $3,600 cash from the issue of common stock to its stockholders
2.2) Provided services on account for $3,100
3.3) Paid $1,800 cash for land
4.4) Owed $1,300 of salaries expenses to employees for work done in December that will be paid during January
5.6) Collected $1,600 from customers
What is the total of the debit account balances that will be reported on the company's adjusted trial balance at December 31, Year 1? Prepare T Accounts and Journal Entries
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