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A company's (Company XX) balance sheet account had the following balances on September 1, 2018, the beginning of a fiscal year. You are required to

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A company's (Company XX) balance sheet account had the following balances on September 1, 2018, the beginning of a fiscal year. You are required to prepare the joumal entries for the transactions carried out for the month of September. XX company Balance Sheet Accounts, September 1, 2018 Rs 5,750 45,000 30,000 49,850 Cash Rs 2,600 Accounts receivable 25,200 Merchandise inventory 77,800 Prepaid rent 4,000 Store equipment 21,000 Accumulated depreciation, store equipment Accounts payable Paid-in capital Retained earings Summarized transactions for September were 1. Acquisitions of merchandise invertory on account R349,000 2. Sales for cash 36,250 3. Payment to suppliers 29,000 (further to transaction(a)) 4. Sales on account 38,000 5. Advertising in newspapers, paid in cash 3000 6. Cost of goods sold 40,000 7. Collections on account 33,150 8. Miscellaneous expenses paid in cash 8,000 9. Wages paid in cash 9,000 10. Recognize rent expenses 2000 11. Depreciation of store equipment, 250

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