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Answer the following: From the following transactions, pass journal entries, prepare ledger accounts, and prepare a trial balance. 2016 June 1. Mr. Fox started business

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Answer the following: From the following transactions, pass journal entries, prepare ledger accounts, and prepare a trial balance. 2016 June 1. Mr. Fox started business with $15,000 2. Purchased furniture $3,000 3. Purchased goods $2,500 4. Sold goods $5,000 5. Purchased from Mr. Hall $3,500 6. Sold to Leo $8,000 7. Paid to Mr. Hall $2,500 8. Received from Leo $5,000

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