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1 Part 1 of 2 10 points eBook Hint Print References ! Required information [The following information applies to the questions displayed below.] The
1 Part 1 of 2 10 points eBook Hint Print References ! Required information [The following information applies to the questions displayed below.] The transactions of Spade Company appear below. a. K. Spade, owner, invested $16,750 cash in the company in exchange for common stock. b. The company purchased supplies for $486 cash. c. The company purchased $9,263 of equipment on credit. d. The company received $1,977 cash for services provided to a customer. e. The company paid $9,263 cash to settle the payable for the equipment purchased in transaction c. f. The company billed a customer $3,551 for services provided. g. The company paid $515 cash for the monthly rent. h. The company collected $1,491 cash as partial payment for the account receivable created in transaction f. i. The company paid a $900 cash dividend to the owner (sole shareholder). Required: 1. Prepare general journal entries to record the transactions of Spade Company by using the following accounts: Cash; Accounts Receivable; Supplies; Equipment; Accounts Payable; Common Stock; Dividends; Services Revenue; and Rent Expense. 2. Post entries to T-accounts and the ending balances will be calculated. Post entries to T-accounts and the ending balances will be calculated. Cash Balance Balance Balance Balance Balance Supplies Accounts Payable Dividends Rent Expense Balance Balance Balance Balance Accounts Receivable Equipment Common Stock Services Revenue
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