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In January, Tongo, Incorporated, a branding consultant, had the following transactions. a. Received $16,600 cash for consulting services rendered in January. b. Issued common
In January, Tongo, Incorporated, a branding consultant, had the following transactions. a. Received $16,600 cash for consulting services rendered in January. b. Issued common stock to investors for $15,000 cash. c. Purchased $16,100 of equipment, paying 25 percent in cash and owing the rest on a note due in 2 years. d. Received $12,500 cash for consulting services to be performed in February. e. Bought and received $1,550 of supplies on account. f. Received utility bill for January for $1,960, due February 15. g. Consulted for customers in January for fees totaling $19,600, due in February. h. Received $14,300 cash for consulting services rendered in December. 1. Paid $775 toward supplies purchased in (e). Required: Prepare an unadjusted trial balance for Tongo, Incorporated for the month ended January 31. TONGO, INCORPORATED Unadjusted Trial Balance At January 31 Account Name Debit Credit Cash Accounts Receivable Supplies Equipment Notes Payable (long-term) Deferred Revenue Accounts Payable Common Stock Service Revenue Utilities Expense Retained Earnings Totals $ $ 0
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