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Journalize the following business transactions in general journal form. Identify each transaction by number. You may omit explanations of the transactions. 1. The owner, Mai
Journalize the following business transactions in general journal form. Identify each transaction by number. You may omit explanations of the transactions. 1. The owner, Mai Li, invests $40,000 in cash as capital in starting a real estate office operating. 2. Purchased $500 of office supplies on credit. 3. Purchased equipment for $9,000, paying $4,000 in cash and signed a 30-day, $5,000, note payable. 4. Real estate commissions billed to clients amount to $4,000. 5. Paid $800 in cash for the current months rent. 6. Paid $200 cash on account for supplies purchased in transaction 2. 7. Received a bill for $600 for advertising for the current month. 8. Paid $2,500 cash for office salaries and wages. 9. Li withdrew $1,800 from the business as dividend 10. Received a check for $2,500 from a client in payment on account for commissions billed in transaction 4
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