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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
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
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
7. March 20th: Received payment in cash
from the March 10th transaction.
8. March 25th: Purchased $200 office
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 all transactions into the General Journal.
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