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Following is a list of events and transactions occurred by Sandoval Dry Cleaners. Accounting Transactions No. Transactions 1. Purchased $900 of dry cleaning supplies; $500
Following is a list of events and transactions occurred by Sandoval Dry Cleaners. Accounting Transactions No. Transactions 1. Purchased $900 of dry cleaning supplies; $500 was paid in cash and the rest was placed on account. 2. Provided dry cleaning services (10 suits X $20/suit) to customers and received cash. 3. Paid $400 towards the balance owed on account to a supplier. (Hint: Supplies were purchased on account previously.) 4. Received $100 from a customer for future dry cleaning services
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