Record the following selected transactions for January in a two-column journal, identifying each entry by letter: (a)
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Question:
Record the following selected transactions for January in a two-column journal, identifying each entry by letter:
(a) Earned $8,000 fees on account.
(b) Purchased equipment for $45,000, paying $20,000 in cash and the remainder on credit.
(c) Paid $3,000 for rent for January.
(d) Purchased $2,500 of supplies on account.
(e) A. Allen $2,000 investment in the company.
(f) Received $7,000 in cash for fees earned previously.
(g) Paid $1,200 to creditors on account.
(h) Paid wages of $6,250.
(i) Received $7,150 from customers on account.
(j) A. Allen withdrawal of $1,750.
Related Book For
Financial Accounting
ISBN: 978-1305088436
14th edition
Authors: Carl S. Warren, Jim Reeve, Jonathan Duchac
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