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1. Prepare general journal entries to record the following transactions for Spade Company. Post the transactions to T-accounts and determine the ending balance. Extract the

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1. Prepare general journal entries to record the following transactions for Spade Company. Post the transactions to T-accounts and determine the ending balance. Extract the Trial Balance. a. Spade, the owner, invested $100,750 cash into the company b. The company purchased office supplies for $1,250 cash c. The company purchased $10,050 of office equipment on credit d. The company received $15,500 cash as fees for services provided to a customer e. The company paid $10,050 to settle the payable for the office equipment purchased in (c) f. The company billed a customer $2,700 as fees for services provided g. The company paid $1,225 cash for the monthly rent h. The company collected $1,125 cash as partial payment for the account receivable in (f) I. Spade withdrew $10,000 cash from the company for personal use Question 1 Angelica had the following balances. Sales Revenue Cost of goods sold Salaries and commissions Travel and entertainment expenses Advertising expenses Freight expenses Shipping supplies and expenses Postage and stationery Telephone and internet expenses Depreciation of equipment Depreciation of building Legal and professional services expenses Insurance expense Utilities expense Miscellaneous office expense Other Incomes Dividend revenue Rental revenue Gain on sale of plant assets 3,053,081 1,982,541 509,044 48,940 38,315 41,209 24,712 19,663 12,215 25,005 18,059 23,721 17,029 23,275 2,612 98,500 42,910 30,000 Required: Prepare Angelica's Income Statement for year ended December 31 2019

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