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Assignment No.(1) MF opens his own office on May 1, 2021. During the first month of operations, the following transactions occurred. 1. MF invested
Assignment No.(1) MF opens his own office on May 1, 2021. During the first month of operations, the following transactions occurred. 1. MF invested L.E.11,000 in cash in the office. 2. Paid L.E.800 for May rent on office space. 3. Purchased office equipment on account L.E.3,000. 4. Provided services to clients for cash L.E.1,500. 5. Borrowed L.E.700 cash from a bank on a note payable. 6. Performed services for client on account L.E.2,000. 7. Paid monthly expenses: salaries and wages L.E.500, utilities L.E.300, and supplies L.E.100. 8. MF withdraws L.E.1,000 cash for personal use. Instructions: Prepare a tabular summary of the transactions.
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