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Geo Inc. had the following account balances on January 1, Year 2: Accounts Payable Accounts Receivable Cash Common Stock Equipment Note Payable Retained Earnings Salaries
Geo Inc. had the following account balances on January 1, Year 2: Accounts Payable Accounts Receivable Cash Common Stock Equipment Note Payable Retained Earnings Salaries and Wages Expense Supplies $ 704 1,500 1,500 15,000 1,500 2,800 3,536 4,000 700 Required: Prepare journal entries for each of the following January activities, and post results to the relevant T- accounts. Compute the ending balance of each T-account. Beginning balances have been entered. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) A. Paid $704 on account for utilities that were used during December Year 1. B. Purchased $448 of supplies for cash C. Signed a rental agreement for office space and paid $4,500 in advance for six months of rent beginning February 1, Year 2 D. Purchased $14,000 of new equipment, signing a promissory note. E. Provided $28,500 of services. $19,500 was received in cash and $9,000 was provided on credit. F. Paid workers $5,800 for work done in January
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