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How do I record the following transactions in the financial worksheet provided? Thank you! :) a. The company receives an invoice for $3,000 on January
How do I record the following transactions in the financial worksheet provided? Thank you! :)
a. The company receives an invoice for $3,000 on January 23rd from the lawyer who worked on the lease agreement. No terms are given. Lawyer invoices are normally due upon receipt.
b. The company paid to an advertising agency for expenses in several venues for $9,000 on January 27th.
c. The company paid salaries and wages during the month of $15,000 on January 31st.
They seem simple but that is why I think I am doing them wrong.
Balance Sheet Assets Accounts Reveivable Income Statement Revenue minus Expenses = Net Income Legal Advertising Fees Rent Utilities Depreciation Accumulated Equipment Depreciation Liabilities Wages Payable Accounts Payable Equity Common Retained Stock Earnings 104,100 Notes Payable Cost of Revenue Goods Sold T# Inventory Deposits Wages Interest Net Income Cash 104,100 1 (4,500) 4,500 60,000 60,000 15,000 (7,000) 15,000 (7,000) 9 10 11 8,000 8,000 8,000 8,000 (8,000) 8,000 12 13 14 15 16 17 18 19 20 21 91,600 15,000 53,000 4,500 - 60,000 - 104,100 16,000 15,000 (7,000) 8,000 16,000 027 must balance with Z27Step by Step Solution
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