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Given the following transactions of E-Learning Agency for the first month of its operations (January 2022) 1. The E-learning agency received $30,000 cash and gave
Given the following transactions of E-Learning Agency for the first month of its operations (January 2022) 1. The E-learning agency received $30,000 cash and gave capital to the owner. 2. Paid $20,000 cash for land 3. Bought $500 of office supplies on account. 4. Received $5,500 cash from clients for service revenue earned. 5. Performed travel service for clients on account, $3,000 6. Paid cash expenses: computer rent, $600; office rent, $1,100; employee salary, $1,200; utilities, $400 7. Paid $300 on the accounts payable created in transaction 3. 8. Collected $1,000 on the accounts receivable created in transaction 5. 9. Sold land for cash at its cost of $9,000. 10. Owner withdrew $2,000 Required: a. Analyze the transactions above b. Journalize your analysis c. Prepare T-accounts d. Prepare trial balance of E-Learning Agency for the month ended January 31, 2022 e. Prepare income statement of E-Learning Agency for the month ended January 31, 2022 f. Prepare the balance sheet of E-Learning Agency as of January 31, 2022
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