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Need help with this accounting question. I've tried it on my own, so you can ignore the answers placed alraedy. General Ledger Accounts Set up
Need help with this accounting question. I've tried it on my own, so you can ignore the answers placed alraedy.
General Ledger Accounts Set up T accounts for each of the general ledger accounts needed for the following transactions 1. Invested cash in the business, $5,400 2. Paid office rent, $500 3. Purchased office supplies on account, $300 4. Received cash for services rendered (fees), $400 5. Paid cash on account, $50 6. Rendered services on account, $300 7. Received cash for an amount owed by a customer, $100 Post debits and credits to the accounts. Foot the accounts and enter the balances Cash 5,4002 400 5. 500 4 50 100 5,900 5,350 550 Bal Accounts Receivable 100 7. 100 Bal 500 Office Supplies 3 300 Accounts Payable 5 50 3 300 Bal 250Step by Step Solution
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