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Following are transactions related to Peter new business for the month of December 2015. The owner, Peter, invests $200,000 in cash in starting a real

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Following are transactions related to Peter new business for the month of December 2015. The owner, Peter, invests $200,000 in cash in starting a real estate office. Paid $10,000 in cash for two-years rent. Purchased s 10,000 office supplies on credit.A/P Paid $5000 cash on account for office supplies purchased in transaction 3. Real estate commissions revenues billed to customers amount to $40 Received cash of S 3000 for services to be performed after 3 mont Purchased office equipment for $30,000, paying $10,000 in cash and signed a 60-day, note payable for 12,000 and the balance on accounts. Paid $ 4,000 cash for officer's salaries. Peter withdrew $ 2000 from the business for personal expenses. 0. Received cash for $2,000 from a client in payment on account for commissions billed in transaction 5. Instructions: 1- prepare journal entries for Peter new business for the month of december. 2- Post journal entries to general ledger, December 31, 2015. 3- Prepare the trial balance on december 31 ,2015. (5 marks) (2.5 marks) (2.5 marks)

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