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l. Recording Transactions on Ledger Accounts and preparing Trial Balance (40%) Mike West is the founder and president of West Enterprises, a consulting company. The
l. Recording Transactions on Ledger Accounts and preparing Trial Balance (40%) Mike West is the founder and president of West Enterprises, a consulting company. The business transactions during April while the company was being organized are listed as follows. Apr. 1 West and several others invested $650,000 cash in the business in exchange for 10,000 shares of capital stock. Apr. 6 The company purchased office facilities for $300,000, of which $60,000 was applicable to the land and $240,000 to the building. A cash payment of $100,000 was made and a note payable was issued for the balance of the purchase price. Apr. 10 Computer equipment was purchased from Comp Central for $6,000 cash. Apr. 12 Office furnishings were purchased from Sam's Furniture at a cost of $12.000. ure cash payment was made at the time of purchase, and an agreement was made to pay balance on May 12. the remaining 20 Office supplies were purchased from Office Space for $750 cash. The company billed customers $125,000 on account fo Apr. Apr. 25 r consulting services ren Customers are required to make full payment within 30 days. declared and paid to the Apr. 28 d totaling $10,000 was declared and paid to the company's sto www.euruni.edu
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