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I am having a tough time figuring out the types of accounts these belong to. thanks 61 5. You the owner of the operation, invests
I am having a tough time figuring out the types of accounts these belong to. thanks
61 5. You the owner of the operation, invests $250,000 from your own savings into the business. Complete the accounts necessary to make the transaction possible. Cash 65 SSSSSSS Type: Type: 6. The owner of a operation withdraws $5.000 cash for personal use. Type: Type: : 76 7. $500 of office supplies necessary for the operation is purchased on account. 78 79 81 82 83 Type: Type: 98% 898 9 84 85 8. You sell 500 head of 650 pound steer calves at $1.50/ lbs., received cash. 86 Type: Type: 127 128 Bonus: You will need create your own T-Accounts. You obtain an operating loan of $100.000 for expenses. Throughout the year, you pay $60,000 in feed expenses. and $30,000 in Payroll Expenses At the end of hay season, you sell $10,000 worth of hay. With the remaining cash, you pay $20,000 toward a tractor note, Hints: You will need 5 T-Accounts, Debits Credits, A=L NW. 130 331 132 139 13 Type: Type: tas 136 37 933 150 140 Type: Type: Type Step by Step Solution
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