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Jason Adams opened an accounting office on March 1st. During the first month of business, the following transactions occurred. March 1st: Jason Adams invested $5,000

Jason Adams opened an accounting office on March 1st. During the first month of business, the following transactions occurred.

    1. March 1st: Jason Adams invested $5,000 in his new business.
    2. March 1st: Paid $750 for office rent for the month of March.
    3. March 3rd: Purchased office equipment for $500 cash.
    4. March 8th: Borrowed $5,000 cash from the bank as a note payable.
    5. March 10: Performed $500 of accounting services on account.
    6. March 13th: Performed $300 of accounting services, being paid cash.
    7. March 20th: Received payment in cash from the March 10thtransaction.
    8. March 25th: Purchased $200 office supplies on account.
    9. March 31st: Paid the following expenses: utilities $150, advertising expenses of $200.
    10. March 31st: Jason withdrew $500 for personal use.

record each transaction in the accounting equation using the following account titles: Cash, Accounts Receivable, Office Supplies, Office Equipment, Accounts Payable, Notes Payable, Owners Capital, Owners Withdrawals, Service Revenue, Expenses.

The accounting equation should total $9,400

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