The following transactions took place at the Pimental Employment Agency during November 20X1. Record the general journal
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The following transactions took place at the Pimental Employment Agency during November 20X1. Record the general journal entries that would be made for these transactions. Use a compound entry for each transaction.
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DATE Nov. 5 18 23 TRANSACTIONS Performed services for Executive Job Search, Inc., for $30,000; received $12,500 in cash and the client promised to pay the balance in 60 days. Purchased equipment for $550 and some supplies for $750 from Office Supply; issued Check 1008 for the total. Received Invoice 1890 for $4,350 from Automotive Technicians Repair for repairs to the firm's automobile; issued Check 1009 for half the amount and arranged to pay the other half in 30 days.
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Nov 5 Debit Cash 12500 Debit Accounts Receivable 1750...View the full answer
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Related Book For
College Accounting A Contemporary Approach
ISBN: 9781260780352
5th Edition
Authors: David Haddock, John Price, Michael Farina
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A journal entry is an act of keeping or making records of any transactions either economic or non-economic. Transactions are listed in an accounting journal that shows a company\'s debit and credit balances. The journal entry can consist of several recordings, each of which is either a debit or a credit
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