Prepare General Journal entries to record the following August 2014 transactions of a new business called The
Question:
Aug. 1 Joseph Eetok, the owner, invested $20,000 cash and photography equipment with a fair value of $42,000.
1 Rented a studio, paying $12,000 for the next three months in advance.
5 Purchased office supplies for $1,800 cash.
20 Received $9,200 in photography fees.
31 Paid $1,400 for August utilities.
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General Journal Page G1 Date Account Titles and Explanations PR Debit Credit 2014 Aug 1 Cash 101 200...View the full answer
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Related Book For 
Fundamental Accounting Principles
ISBN: 978-0071051507
Volume I, 14th Canadian Edition
Authors: Larson Kermit, Tilly Jensen
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