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NEED NOW In the first month of business, Jakmak Interior Design Company had the following transactions: Mar. 5 7. 9 11 13 The owner, Jackie
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In the first month of business, Jakmak Interior Design Company had the following transactions: Mar. 5 7. 9 11 13 The owner, Jackie MacKenzie, invested $10,000 cash in the business. Paid $565 cash for advertising the launch of the business. Purchased supplies on account for $1,010. Purchased a used car for $9,210 cash, for use in the business. Billed customers $1,890 for services performed. Borrowed $10,410 from the bank and signed a note payable. Received $1,035 cash from customers billed on March 13. Paid for the supplies purchased on March 9. Received $910 cash from a customer for services to be performed in April. Paid Jackie MacKenzie $1,860 cash for her personal use. 25 26 29 30 31 For each transaction indicate: (a) (b) the basic type of account debited and credited (asset, liability, or owner's equity): the specific account debited and credited (Cash, Rent Expense, Service Revenue, etc.); and whether each account is increased (+) or decreased (-), and by what amount. (c) For each transaction indicate: (a) (b) the basic type of account debited and credited (asset, liability, or owner's equity): the specific account debited and credited (Cash, Rent Expense, Service Revenue, etc.); and whether each account is increased (+) or decreased (-), and by what amount (0) Use the following format, in which the first transaction is given as an example. Account Debited a. b. c. a. Date Basic Type Specific Account Effect Basic Type Mar 5 Asset Cash $10,000 Owner's Equity 7 > $ 9 > > 13 > S 25 $ $ s $ $ Step by Step Solution
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