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1. Scuttlebutt Publishers was started on June 1, 2018. The company had the following transactions during June: Part A a. b. C. d. e. Capital

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1. Scuttlebutt Publishers was started on June 1, 2018. The company had the following transactions during June: Part A a. b. C. d. e. Capital investment of $10,000 cash Purchased equipment for $6,000 on credit Purchased $750 of supplies on credit. These are expected to last three months( supplies - Asset Account) Paid two months of newspaper advertising for $500 (record as prepaid Asset Account) Paid the following expenses in cash: telephone, $350; rent for June, $500 Collected $5,000 revenue in cash from customers for the June edition of ONLINE REVIEW magazine Paid half of the equipment purchased on transaction b Paid $2,000 for supplies purchased Paid the following expenses in cash: telephone, $250; salaries, $3,000 Received a $200 bill for electricity used during the month (recorded as Utilities Expense). f. 8 h. i. j. Required: 1. Open general ledger T-accounts for the above transactions 2. Post the entries to general ledger T-accounts and calculate balances at June 30, 2018. 3. Prepare Trial Balance for June 30, 2018

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