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Not sure if any of this is correct. Each row in the interactive grid below contains an accounting transaction in the first column. Complete each
Not sure if any of this is correct.
Each row in the interactive grid below contains an accounting transaction in the first column. Complete each row by entering amounts under the two account columns that are relevant to the transaction. In the last row, calculate the ending balance for each account. If a cell does not require an entry, leave it blank. B C D E J K L M N O Assets Revenue Expenses F G H I = Liabilities + Stockholders' Equity Accounts Common Payable Stock Cash Accounts Receivable Fees Earned Rent Expense Supplies Expense 6,500 6,500 3,000 3,000 1,000 1,000 700 700 3 1. Issue stock for cash, $6,500 4 2. Paid cash for rent, $3,000 5 3. Sold memberships for cash, $1,000 6 4. Purchased supplies on account, $700 5. Purchased supplies for cash, $200 6. Paid cash on account, $500 7. Sold to customers on credit account, $3,000 10 8. Received cash on account, $1,500 11 Ending balances (200) 200Step by Step Solution
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