The following seven transactions produced the account balances shown above. a. Y. Min invested $19,000 cash...

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The following seven transactions produced the account balances shown above. a. Y. Min invested $19,000 cash in the business in exchange for common stock. b. Paid $7,020 cash for monthly rent expense for May. c. Paid $4,700 cash in advance for the annual insurance premium beginning the next period. d. Purchased office supplies for $960 cash. e. Purchased $11,700 of office equipment on credit (with accounts payable). f. Received $39,000 cash for services provided in May. g. The company paid a $3,288 cash dividend. 2. Prepare a Cash T-account for the above transactions, and compute the ending Cash balance. Code each entry with one of the transaction codes a through g. The following seven transactions produced the account balances shown above. a. Y. Min invested $19,000 cash in the business in exchange for common stock. b. Paid $7,020 cash for monthly rent expense for May. c. Paid $4,700 cash in advance for the annual insurance premium beginning the next period. d. Purchased office supplies for $960 cash. e. Purchased $11,700 of office equipment on credit (with accounts payable). f. Received $39,000 cash for services provided in May. g. The company paid a $3,288 cash dividend. 2. Prepare a Cash T-account for the above transactions, and compute the ending Cash balance. Code each entry with one of the transaction codes a through g.

Answer rating: 100% (QA)

SOLUTION a An investment of 19000 A debit Dr of 19000 to the cash account A credit Cr of 19000 to Co... View the full answer