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Nov. 1 Began a public accounting practice by investing $4,000 in cash and office equipment having a $3,300 fair value. Nov. 2 Purchased on credit
Nov. 1 Began a public accounting practice by investing $4,000 in cash and office equipment having a $3,300 fair value. Nov. 2 Purchased on credit office equipment, $900, and office supplies, $150. Nov. 4 Completed accounting work for client and immediately received a payment of $400 cash. Nov. 8 Completed accounting work on credit for Acme Loan Co., $600. Nov. 10 Paid for the items purchased on credit on November 2. Nov. 14 Paid the annual $800 premium on an insurance policy. Nov. 18 Received payment in full from Acme Loan Co. for the work completed on November 8. Nov. 27 M. H. Acosta withdrew $650 cash from the practice to pay personal expenses. Nov. 30 Paid the November utility bills, $140. Prepare general journal entries to record the transactions. Use the attached Word File. 20 marks
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