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During the first month of operations, Johnson Services, Inc., completed the following transactions: (Click the icon to view the transaction data.) Read the requirements. Requirement
During the first month of operations, Johnson Services, Inc., completed the following transactions: (Click the icon to view the transaction data.) Read the requirements. Requirement 1. Record each transaction in the journal. Key each transaction by date. Explanations are not required. (Record debits first, then credits. Exclude explanations from journal entries.) Mar 2: Johnson Services received $70,000 cash and issued common stock to the stockholders. Requirements 1. Record each transaction in the journal. Be sure to record the date in each entry. Explanations are not required. 2. Post the transactions to the T-accounts, using transaction dates as posting references. Determine the ending balance in each account. 3. Prepare the trial balance of Johnson Services, Inc., at March 31 of the current year. 4. Matthew Johnson, the manager, asks you how much in total resources the business has to work with, how much it owes, and whether March was profitable (and by how much)
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