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1. Set up appropriate T-accounts for cash, accounts receivable, supplies, merchandise inventory, prepaid rent, equipment, furniture and fixtures, accounts payable, notes payable, interest payable, contributed

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1. Set up appropriate T-accounts for cash, accounts receivable, supplies, merchandise inventory, prepaid rent, equipment, furniture and fixtures, accounts payable, notes payable, interest payable, contributed capital, sales revenue, cost of sales, advertising expense, wages expense, repair expense, and interest expense. All accounts begin with zero balances. Page 159 2. Record in the T-accounts the effects of each transaction for Joanne's Chocolates Inc. in March, referencing each transaction in the accounts with the transaction letter. Show the ending balances in the T~accounts. 3. Prepare a statement of earnings for March 2l

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