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9) (7pts) Record the transactions in the table below. Total the columns to record the balance in each account. a) The owner of the Reynolds
9) (7pts) Record the transactions in the table below. Total the columns to record the balance in each account. a) The owner of the Reynolds Company invested $12,000 cash in the company for its common stock. b) The company purchased supplies for $500 in on account. The company paid an employee $1,000 cash as wages for the period. d) The company completed service work for a client and sent a bill for $2,800. e) The company purchased additional supplies for $430 with cash. f) The company received a partial payment of $800 for the amount owed by the client in transaction d. Record the balances of each account. Remember Debits should equal the credits. CASH ASSETS = LIABILITES + EQUITY Accounts Common + Supplies Dividends + Revenues Payable Stock Accounts Receivable + + Expenses a) = b) c) d) e) f) = Bal 10) Which side of the T-account is the normal balance for an asset account
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