The following accounting events apply to Marys Designs for Year 1: Asset Source Transactions Began operations by

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The following accounting events apply to Marys Designs for Year 1: Asset Source Transactions Began operations by acquiring $17,000 of cash from the issue of common stock. Performed services and collected cash of $1,000. Collected $4,500 of cash in advance for services to be provided over the next 12 months. Provided $11,600 of services on account. Purchased supplies of $380 on account. Asset Exchange Transactions Purchased $4,200 of land for cash. Collected $8,900 of cash from accounts receivable. Purchased $560 of supplies with cash. Paid $3,100 for one years rent in advance. Asset Use Transactions Paid $2,800 cash fo image text in transcribed r salaries of employees. Paid a cash dividend of $1,900 to the stockholders. Paid off $380 of

Posted Date: May 18, 2024 02:17 PM

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The following accounting events apply to Marys Designs for Year 1: Asset Source Transactions Began operations by

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