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Journalize the following selected transactions for Long Company's first month of operations in a two-column Journal, identifying each entry by letter. Omit explanations. It an
Journalize the following selected transactions for Long Company's first month of operations in a two-column Journal, identifying each entry by letter. Omit explanations. It an amount box does not require an entry, leave it blank. a, Received $18,000 from Katie Long, owner, as an investment in the business. Cash 18,000 Katie Long, Capital 78.000 b. Purchased equipment for $27,000, paying $10,000 in cash and giving a note payable for the remainder, Equipment 27.000 Cash 21 10,000 Notes Payable 17.000 c. Pald $2,300 for rent for April. Rent Expense Cash 2.300 2,100 di Purchased $1,500 of supplies on account Supplies Accounts Payable 1.50 e. Recorded $9,800 of foes earned on account. Unearned Fees 9.800 Fees Earned 9,000 f. Received $7,500 in cash for fees earned. g. Paid $1,200 to creditors on account. Accounts Payable Accounts Receivable 1,200 1,200 h. Paid wages of $3,425. Wages Expense 3,425 Cash 3,425 i. Received $7,900 from customers on account. Cash 7,900 Accounts Payable 7,900 j. Recorded owner's withdrawal of $1,875. Katie Long, Drawing 1,875 Cash 1,875
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