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3. Using the journal entries below, post to the T-accounts and determine the final account balances. Be sure to indicate if final balance is DEBIT
3. Using the journal entries below, post to the T-accounts and determine the final account balances. Be sure to indicate if final balance is DEBIT or CREDIT. Date Account Debit Credit 10/2 Cash 24,000 Owner's capital 24,000 10/5 Supplies 900 Cash 900 10/8 Office equipment 2,800 Accounts payable 2,800 10/9 Supplies 600 Accounts payable 600 10/10 Rent expense 3,300 Cash 3,300 10/16 Office equipment 500 Cash 500 10/31 Accounts payable 1,400 Cash 1,400 Cash Account payable Supplies Owner's capital Office Equipment Rent expense Normal Effect of Balance Debit (Dr or Cr) (+ or -) Effect of Credit (+ or -) 4. For each account below, complete the following: Account Financial Statement Type of Account (BS = Balance Sheet or (A = Asset, L = Liability or IS = Income Statement) OE = Owner's Equity) Salary expense Repair revenue Accounts payable Accounts receivable Cash
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