Question: Use the information from the T-accounts below to create the related journal entries. Provide an explanation for each journalentry. Equipment 52,000 Cash Accounts receivable 0

Use the information from the T-accounts below to create the related journal entries. Provide an explanation for each journalentry.

Equipment 52,000 Cash Accounts receivable 0 10,000 8,0002 3 15,000 4,000 Inventory 8,000 6 25,000 0 75,000 11,000 4 21,000 6 Bank loan Accounts payable Common shares Revenue 75,000 4 11,000 15,000 25,000 6 10,000 0 31,000 6 Cost of goods sold 8 4,000

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