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Harold Joseph is a painting contractor who specializes in painting commercial buildings. At the beginning of June, his firm's financial records showed the following assets,

Harold Joseph is a painting contractor who specializes in painting commercial buildings. At the beginning of June, his firm's financial records showed the following assets, liabilities, and owner's equity.

Cash$60,700Accounts Receivable16,300Office Furniture35,500Auto23,200Accounts Payable10,900Harold Joseph, Capital91,200Revenue57,700Expenses24,100

TRANSACTIONS

  1. Performed services for $6,650 on credit.
  2. Paid $1,670 in cash for new office chairs.
  3. Received $10,900 in cash from credit clients.
  4. Paid $850 in cash for telephone service.
  5. Sent a check for $3,900 in partial payment of the amount due creditors.
  6. Paid salaries of $9,400 in cash.
  7. Sent a check for $1,090 to pay electric bill.

PerfHarold Joseph is a painting contractor who specializes in painting commercial buildings. At the beginning of June, his firm's financial records showed the following assets, liabilities, and owner's equity.

Cash$60,700Accounts Receivable16,300Office Furniture35,500Auto23,200Accounts Payable10,900Harold Joseph, Capital91,200Revenue57,700Expenses24,100

TRANSACTIONS

  1. Performed services for $6,650 on credit.
  2. Paid $1,670 in cash for new office chairs.
  3. Received $10,900 in cash from credit clients.
  4. Paid $850 in cash for telephone service.
  5. Sent a check for $3,900 in partial payment of the amount due creditors.
  6. Paid salaries of $9,400 in cash.
  7. Sent a check for $1,090 to pay electric bill.
  8. Performed services for $10,200 in cash.
  9. Paid $2,320 in cash for auto repairs.
  10. Performed services for $12,200 on account.

Enter the above transactions in to the following accounting equations.

Analyze:

  1. What is the amount of total assets after all transactions have been recorded?vormed services for $10,200 in cash.
  2. Paid $2,320 in cash for auto repairs.
  3. Performed services for $12,200 on account.

Enter the above transactions in to the following accounting equations.

Analyze:

What is the amount of total assets after all transactions have been recorded?

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