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In January, Tongo, Incorporated, a branding consultant, had the following transactions. a. Received $9,500 cash for consulting services rendered in January. b. Issued common
In January, Tongo, Incorporated, 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 and received $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. Paid $500 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 Account Name Debit Credit Cash $ 9,500 Accounts Receivable Supplies Equipment Accounts Payable Deferred Revenue
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