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In January, Tongo Inc. had the following transactions. a. Received $9,500 cash for consulting services rendered in January. b. Issued shares to investors for $10,000
In January, Tongo Inc. had the following transactions. a. Received $9,500 cash for consulting services rendered in January. b. Issued shares 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 two years. d. Received $7,500 cash for consulting services to be performed in February. e. Bought $1,000 of supplies on account f Recelved utility bill for January for $1,250, due February 15. g. Consulted for customers in January for fees totalling $15,900, due in February. h. Recelved $12,000 cash for consulting services rendered in December. t. Paid $500 toward supplies purchased in (e) Required: 1. For each of the above transactions, post the effects to the appropriate T-accounts and determine ending account balances. Beginning account balances have been given. 2. Based on the transactions posted to T-accounts, create an unadjusted trial balance for Tongo Inc for the month ended January 31
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