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129121, 7:01 PM Homework Assignment 3 - Ch 2-Phuong Ha Student: Phuong Ha Instructor: Suzanna Karam Singh Assignment: Homework Assignment 3 - Date: 12/09/21 Course:

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129121, 7:01 PM Homework Assignment 3 - Ch 2-Phuong Ha Student: Phuong Ha Instructor: Suzanna Karam Singh Assignment: Homework Assignment 3 - Date: 12/09/21 Course: ACCT1036 (3) Ch 2 8. The journal of Aiden's Baking School for July 2019 is provided in the accompanying table. 1(Click on the icon to view the journal entries.) Required 1. Describe each transaction. 2. Post to the T-accounts which have been set up for you. Identify each transaction by date. Compute the balance in each account after posting. The T-accounts have been set up using the following account numbers: Cash, #1000; Accounts Receivable, #1200; Baking Supplies, #1400; Accounts Payable. #2000; Aiden Belt. Capital, #3000; Service Revenue, #4000; Advertising Expense, #5100; Rent Expense, #5600; Utilities Expense. #5800. Requirement 1. Describe each transaction. JUL 2 Investment of cash by the owner 3 Payment of rent expense 9 Purchase of baking supplies on account (on credit) 11 Service provided on account 22 Collection on account 25 Payment of advertising expense 27 Payment on account 31 Receipt of a utilities bill and recording the expense on account Requirement 2. Post to the T-accounts which have been set up for you. Identify each transaction by date. Compute the balance in each account after posting. (Post transactions in the order that they appear in the journal using the first available cell on the appropriate debit or credit side of the T-account. Leave any unused cells blank.) https:Iixlitemprod.pearsoncmg.comi'apilvl lprintJhighered 1l3 \f12/9/21, 7:01 PM Homework Assignment 3 - Ch 2-Phuong Ha General Journal Page 5 Date Accounts Debi Credit Jul. 2 Cash $ 6,000 Aiden Belt, capital $ 6,000 3 Rent expense 1,550 Cash 1,550 9 Baking supplies 56 counts p 56 11 Accounts receivable 1,640 Service revenue 1,640 22 Cash 360 Accounts receivable 360 25 Advertising expense 730 Cash 730 27 Accounts payable 56 Cash 56 31 Utilities expense 580 Accounts payable 580 https://xlitemprod.pearsoncmg.com/api/v1/print/highered 3/3

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