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Journalize and post to the ledger the following transaction of Cortana Company: Cortana Company, a service firm rendering computerized accounting services has the following
Journalize and post to the ledger the following transaction of Cortana Company: Cortana Company, a service firm rendering computerized accounting services has the following transactions of the month of May 2013: 1. Owner invested his savings worth 8,500,000 into the business and bought 1,500,000 worth of equipment with it. 2. Owner invested furniture and fixtures worth 150,000 3. Rendered services to clients worth 150,000 and received cash payment immediately 4. Rendered services to clients worth 200,000 on account 5. Rendered services to clients worth 600,000 with term 50% down, balance on account 6. Paid Salaries of employees worth 40,000 7. Received utility bills worth 50,000 8. Collected half of the amount due from #4 9. Owner withdrew 15,000 cash for personal use 10. Paid the total amount due for the Utilities
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To journalize and post the transactions of Cortana Company we will use the following accounts Cash Equipment Furniture and Fixtures Accounts Receivable Service Revenue Salaries Expense Utilities Expen...Get Instant Access to Expert-Tailored Solutions
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