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HELP !!!! Help HELP a) Earned service revenue of $40,000. Of this amount, $18,000 was received in cash. The balance was on account. b) Star
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a) Earned service revenue of $40,000. Of this amount, $18,000 was received in cash. The balance was on account. b) Star purchased equipment that cost $24,000 by paying $2,000 and signing a 6% two-year note payable for the $22,000 balance. c) Star's equipment that cost $24,000 has an esimated useful life of four years. You are to record depreciation expense for the year. \begin{tabular}{|c|c|c|c|c|} \hline Date & Debit account & Credit account & Debit \$ & Credit $ \\ \hline c) & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline \end{tabular} d) Collected $12,000 that was owing from customers on account. \begin{tabular}{|c|c|c|c|c|} \hline Date & Debit account & Credit account & Debit $ & Credit $ \\ \hline d) & & & & \\ \hline & & & & \\ \hline & & & \\ \hline \end{tabular} f) Purchased $3,000 of supplies inventory on account (on credit). g) Of the $3,000 in supplies inventory that was purchased, only $400 of supplies were still on hand at the end of the accounting period. h) Paid \$2,400 to suppliers for supplies inventory that were previously purchased on credit (on account) Step by Step Solution
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