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Enter the unadjusted balances from the trial balance and post the adjusting entries to the T-accounts, and post the closing entries to the T-accounts. The
Enter the unadjusted balances from the trial balance and post the adjusting entries to the T-accounts, and post the closing entries to the T-accounts.
The following information applies to the questions displayed below] The general ledger of Jackrabbit Rentals at January 1, 2018, includes the following account balances: Debits $ 60,500 Credits Cash Accounts Receivable 129,800 Accounts Payable Notes Payable Common Stock Retained Earnings 17,200 49,000 119,000 49,800 Totals $235,000 $235,000 The following is a summary of the transactions for the year: a. January 12 Provide services to customers on account, $81,400. b. February 25 Provide services to customers for cash, $84,800. c. March 19 Collect on accounts receivable, $47,600. d. April 30 Issue shares of common stock in exchange for $49,000 cash. e. June 16 Purchase supplies on account, $15,900. f July 7 Pay on accounts payable, $13,200. g. September 30 Pay salaries for employee work in the current year, $83,200. h. November 22 Pay advertising for the current year, $24,400. i. December 30 Pay $4,800 cash dividends to stockholders. j. Accrued interest on the notes payable at year-end amounted to $4,400. Accrued salaries at year-end amounted to $3,400. Supplies remaining on hand at the end of the year equal $4,200Step by Step Solution
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