Question: Summarized transactions for January 2 0 2 2 ?were as follows. 1 . ? Advertising costs, paid in cash, $ 1 , 0 9 0

Summarized transactions for January 2022 ?were as follows.

1. ? Advertising costs, paid in cash, $1,090.

2. ? Additional supplies acquired on account $3,610.

3.

Miscellaneous expenses, paid in cash, $1,830.

4. ? Cash collected from customers in payment of accounts receivable $12,590.

5. ? Cash paid to creditors for accounts payable due $12,280.

6. ? Repair services performed during January: for cash $6,990; on account $9,840.

7. ? Wages for January, paid in cash, $2,050.

8. ? Dividends during January were $2,520.

(a)

Your answer is partially correct.

Open T-accounts for each of the accounts listed in the trial balance, and enter the opening balances for 2022.


Concord Corporation Trial Balance December 31, 2021 Debit Credit Cash $7,800 Accounts

Concord Corporation Trial Balance December 31, 2021 Debit Credit Cash $7,800 Accounts Receivable 15,500 Supplies 12,200 Prepaid Rent 2,100 Equipment 20,300 Accounts Payable $16,400 Common Stock 30,300 Retained Earnings 11,200 $57,900 $57,900

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