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intro to college Accounting - recording journal entries; The CCBC Corporation had the following post-closing trial balance at the beginning of its fiscal year, July

intro to college Accounting - recording journal entries;

The CCBC Corporation had the following post-closing trial balance at the beginning of its fiscal year, July 1, 2015:

Debit Credit
Cash $ 7,700
Accounts receivable 6,600
Supplies 1,200
Equipment 13,800
Accumulated depreciationequipment $ 5,500
Unearned revenue 2,750
Common shares 6,000
Retained earnings 15,050
Totals $ 29,300 $ 29,300

During the month of July, the following selected transactions took place:

July 2 Paid $1,000 for two months rent in advance for July and August.
7 Purchased $200 of supplies on account.
14 Collected half of outstanding accounts receivable.
15 Borrowed $1,000 from the bank at an interest rate of 5%.
21 Received $1,000 cash from a customer for services to be provided in August.
28 Provided $1,000 of services to a customer on account.

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