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just need c and d answered please Office Equipment Accounts Payable Sales Revenue Accounting and Legal Fees Expense Salary Expense Calculator Clear all Data table
just need c and d answered please
Office Equipment Accounts Payable Sales Revenue Accounting and Legal Fees Expense Salary Expense Calculator Clear all Data table More info a. Bought office equipment with cash, $6,000. b. Bought supplies on credit from a vendor, $6,000. c. Sold goods for cash, $7,000 (ignore the inventory and cost of goods sold entries of this transaction). d. Bought raw materials from a supplier on account, $2,200. e. Sold goods to customers on account, $5,200 (ignore the inventory and cost of goods sold entries of this transaction). f. Purchased raw materials by issuing a note payable, $2,700. g. Paid cash toward note payable balance, $700. h. Received cash from customer to apply to credit account balance, $2,600. i. Paid for accounting and legal fees in cash, $150. j. Paid salaries in cash, $850. Requirements a. Show the effect of each transaction on assets, liabilities, and equity using the accounting equation. b. Prepare journal entries. Omit explanations. c. Post each transaction to t-accounts. d. Determine the ending balances for each account Step by Step Solution
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