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In January, Tongo, Inc., a branding consultant, had the following transactions. a. Received $9,500 cash for consulting services rendered in January b. Issued common stock

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In January, Tongo, Inc., a branding consultant, had the following transactions. a. Received $9,500 cash for consulting services rendered in January b. Issued common stock to Investors for $10,000 cash. c. Purchased $12,000 of equipment, paying 25 percent in cash and owing the rest on a note due in 2 years. d. Received $7,500 cash for consulting services to be performed in February e. Bought $1,000 of supplies on account. f. Received utility bill for January for $1,250, due February 15. g. Consulted for customers in January for fees totaling $15,900, due in February. h. Received $12,000 cash for consulting services rendered in December 1. Pald $500 toward supplies purchased in (e). Credit Debit $10,000 12,500 800 5,000 Account Title Cash Accounts recevable Supplies Equipment Accounts payable Unearned revenue Note payable Common stock Retained earnings Service revenue Utilities expense $ 5,000 2,500 0 12,000 8,800 0 0 Enter the beginning account balances and post the effects to the appropriate T-accounts and determine ending account balances. Cash Account Receivable 12,500 Beg. Bal. 10,000 Beg. Bal. End. Bal. 12,500 End. Bal. 10,000 Supplies 800 Equipment 5,000 Beg. Bal. Beg. Bal. End. Bal. 800 End. Bal. 5,000 Accounts Payable 5,000 Unearned Revenue 2,500 Beg. Bal. Beg. Bal. End. Bal. 5,000 End. Bal. 2,500 Note Payable Common Stock Beg. Bal. Beg. Bal. 12,000 End. Bal. 0 End. Bal. 12,000 Service Revenue Retained Earnings 8,800 Beg. Bal. Beg. Bal. End. Bal. 8,800 End. Bal. Utilities Expense Beg. Bal. End. Bal. 0 Prepare an unadjusted trial balance for Tongo, Inc. for the month ended January 31. TONGO, INC. Unadjusted Trial Balance Account Name Debit Credit Totals S 0 S 0

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