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10 points (Extra Cradit A Car Wash proprietorship shows the following summarized journal entries below. For each summarized journal entry, write an explanation of the
10 points (Extra Cradit A Car Wash proprietorship shows the following summarized journal entries below. For each summarized journal entry, write an explanation of the transaction that occurred. Basically, what you are observing is the answer that you would have given on the homework. You have to write the transaction that made the company prepare the Journal Entries below. Make sure that you indicate with the letter which answers you are referring to a) Accounts Receivable Service Revenue 3,000 3,000 b) Rent Expense 1,500 Accounts Payable 1,000 Cash 500 c) Equipment Cash 500 500 d) Building e) Cash Owner's Capital Accumulated Depreciation - Equipment Equipment 25,000 25,000 700 300 1,000
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