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Date 1 5 7 9 11 13 15 Transactions Shareholders invested $26,000 in the business in exchange for ordinary shares. Obtained a bank loan for
Date 1 5 7 9 11 13 15 Transactions Shareholders invested $26,000 in the business in exchange for ordinary shares. Obtained a bank loan for $4,500 by issuing a note payable. Paid $......cash for December office rent. Paid $ ......for supplies. Purchased $......an equipment on account from ABC Company. Paid $.....advertising to XYZ Advertising Company. Performed service for $18,000, of which $3,500 was in cash and the remaning was billed to customer on account. Paid the utility bill for the month, $..... Paid ABC Company the amount due in transaction incurred on 11 December Paid employee's salaries and wages, $..... Received $......cash from customers billed in transaction incurred on 15 December. Declared and paid cash dividend of $400 17 19 25 27 30 Note: The closing balance of CASH account was $14,500 Required: 1. Fill the dot ......) with a reasonable amount for given transactions above. (0.75 marks) 2. Prepare journal entries for the given transactions. (0.75 marks) 3. Post the transaction to T accounts. (0.5 marks) 4. Prepare Trial Balance. (0.5 marks)
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