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Instructions Innovative Consulting Co. has the following accounts in its ledger: Cash, Accounts Receivable; Supplies; Office Equipment; Accounts Payable; Common Stock; Retained Earnings; Dividends; Fees
Instructions Innovative Consulting Co. has the following accounts in its ledger: Cash, Accounts Receivable; Supplies; Office Equipment; Accounts Payable; Common Stock; Retained Earnings; Dividends; Fees Earned; Rent Expense; Advertising Expense; Utilities Expense, Miscellaneous Expense. Transactions Oct. 1 Paid rent for the month, $2,300. 4 Paid advertising expense, $700. 5 Paid cash for supplies, $1,250. 6 Purchased office equipment on account, $9,600. 12 Received cash from customers on account, $17,000. 20 Paid creditor on account, $3,050. 27 Paid cash for miscellaneous expenses, $560. 30 Paid telephone bill for the month, $300. 31 Fees earned and billed to customers for the month, $51,470. 31 Paid electricity bill for the month, $810. 31 Paid dividends $1,750. Journalize the preceding selected transactions for October 20Y2 in a two-column journal Refer to the Chart of Accounts for exact wording of account titles. Innovative Consulting Co. General Ledger ASSETS 11 Cash 12 Accounts Receivable 13 Supplies REVENUE 41 Fees Eamed 14 Office Equipment LIABILITIES 21 Accounts Payable EXPENSES 51 Rent Expense 52 Advertising Expense 53 Utilities Expense 54 Miscellaneous Expense EQUITY 31 Common Stock 32 Retained Earnings 33 Dividends DATE DESCRIPTION 1 2 3 4 5 6 7 8 9 10 11 12 JOURNAL PAGE 1 ACCOUNTING EQUATION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY 11 12 13 14 15 16 17 18 19 20 21 22
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