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In January, Tongo, Inc., a branding consultant, had the following transactions. Received $13,200 cash for consulting services rendered in January. Issued common stock to investors
In January, Tongo, Inc., a branding consultant, had the following transactions.
- Received $13,200 cash for consulting services rendered in January.
- Issued common stock to investors for $8,000 cash.
- Purchased $11,200 of equipment, paying 25 percent in cash and owing the rest on a note due in 2 years.
- Received $11,800 cash for consulting services to be performed in February.
- Bought and received $1,750 of supplies on account.
- Received utility bill for January for $2,060, due February 15.
- Consulted for customers in January for fees totaling $19,900, due in February.
- Received $13,300 cash for consulting services rendered in December.
- Paid $875 toward supplies purchased in (e).
Prepare an unadjusted trial balance for Tongo, Inc. for the month ended January 31.
Prepare an unadjusted trial balance for Tongo, Inc. for the month ended January 31. TONGO, INC. Unadjusted Trial Balance At January 31 Account Name Debit Credit Cash Accounts Receivable Supplies Equipment Accounts Payable Deferred Revenue Notes Payable (long-term) Common Stock Retained Earnings Service Revenue Utilities Expense Totals $ 0 $ 0Step by Step Solution
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