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Geo Inc. had the following account balances on on 1, Year 2: the January Accounts Payab 704 Accounts Receivable 1,500 Cash 1,500 Common Stock 15,000
Geo Inc. had the following account balances on on 1, Year 2: the January Accounts Payab 704 Accounts Receivable 1,500 Cash 1,500 Common Stock 15,000 Equipment 1,500 Note Payable 2,800 Retained Earnings 3,536 Salaries and Wages Expense 4,000 Supplies 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. view transaction list view general journal U Journal Entry Worksheet 1 2 3 4 5 6 Record the payment of $704 on account for December's utilities Debit Credit Transaction General Journal Retained Earnings 704 704 Enter debits before credits done clear entry record entry
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