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Is this correct? The Copy Center had the transactions listed below during the month of June. TRANSACTIONS 1. John Amos started the business with a
Is this correct?
The Copy Center had the transactions listed below during the month of June. TRANSACTIONS 1. John Amos started the business with a cash investment of $45,000. 2 Purchased equipment for $14.500 on credit. 3. Performed services for $3,600 in cash. 4. Purchased additional equipment for $3,100 in cash. 5. Performed services for $4.300 on credit 6. Paid salaries of $3,700 to employees. 7. Received $1,700 cash from charge account customers. 8. Paid $7,000 to a creditor on account. Show how each transaction would be recorded in the accounting equation. (Enter decreases to account balances with a minusso Assets Liabilities John Amos Equipment Accounts Payable Cash Capita Accounts Receivable 1.700. 14.500 (14,500)= (3.100) 7.000 (4.300) 45.000 3.600 (3.100)+ (3.700) NO + 45.000 .000 Totals S $ 38.500+ S 2 ,800) + Step by Step Solution
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