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a. Kacy Spade, owner, invested $16,250 cash in the company in exchange for common stock. b. The company purchased office supplies for $471 cash.
a. Kacy Spade, owner, invested $16,250 cash in the company in exchange for common stock. b. The company purchased office supplies for $471 cash. c. The company purchased $8,986 of office equipment on credit. d. The company received $1,918 cash as fees for services provided to a customer. e. The company paid $8,986 cash to settle the payable for the office equipment purchased in transaction c f. The company billed a customer $3,445 as fees for services provided. g. The company paid $510 cash for the monthly rent. h. The company collected $1,447 cash as partial payment for the account receivable created in transaction f i. The company paid a $1,100 cash dividend to the owner (sole shareholder). Prepare the Trial Balance. Use May 31 as its report date. Answer is complete but not entirely correct. SPADE COMPANY Trial Balance May 31 Debit Credit Cash Accounts receivable $6 8,748 1.998 Office supplies 471 Office equipment 8,986 Accounts payable Common stock Dividends Fees earned 16,250 900 5,363 510 Rent expense Totals $ 21,613 $ 21,613
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