Teddy Sargent opened an accounting firm on May 1, 2010. During the month of May, the business

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Teddy Sargent opened an accounting firm on May 1, 2010. During the month of May, the business completed the following transactions:image text in transcribed

Requirements 1. Open, or set up, the following T-accounts: Cash, Accounts Receivable, Supplies, Furniture, Land, Accounts Payable, Common Stock, Dividends, Service Revenue, Salary Expense, and Rent Expense.
2. Journalize transactions. Explanations are not required.
3. Post the transactions to the T-accounts that have been set up for you, using transaction dates as posting references.
4. Calculate the balance in each account.
5. Prepare the trial balance for Sargent & Associates, Inc., at the end of May.

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Financial Accounting

ISBN: 9780136060482

1st Edition

Authors: Jeffrey Waybright, Robert Kemp

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