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EZ Curb Company completed the following transactions. The annual accounting period ends December 31. January 8 Purchased merchandise on account at a cost of $17,500.
EZ Curb Company completed the following transactions. The annual accounting period ends December 31. January 8 Purchased merchandise on account at a cost of $17,500. (Assume a perpetual inventory system.) January 17 Paid for the January 8 purchase. April 1 Received $45,600 from National Bank after signing a 12-month, 9.5 percent, promissory note. June 3 Purchased merchandise on account at a cost of $21,500. July 5 Paid for the June 3 purchase. July 31 Rented out a small office in a building owned by EZ Curb Company and collected six months rent in advance, amounting to $8,100. (Use an account called Deferred Revenue.) December 20 Collected $170 cash on account from a customer. December 31 Determined that wages of $7,900 were earned but not
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