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On April 1, Betty Harris established Harris's Travel Agency. The following transactions were completed during the month. 1. Invested $ 13,000 cash to start the
On April 1, Betty Harris established Harris's Travel Agency. The following transactions were completed during the month. 1. Invested $ 13,000 cash to start the agency. 2. Paid $ 600 cash for April office rent. 3. Purchased equipment for $ 2.900 cash. 4. Incurred $ 900 of advertising costs in the Chicago Tribune, on account. 5. Paid $ 500 cash for office supplies. 6. Performed services worth $ 11,000: $3,100 cash is received from customers, and the balance of $ 7,900 is billed to customers on account. 7. Withdrew $ 500 cash for personal use. 8. Paid Chicago Tribune $ 700 of the amount due in transaction (4). 9. Paid employees' salaries $2,900. 10. Received $ 4.900 in cash from customers who have previously been billed in transaction (6). Complete the tabular analysis of the transactions. (If a transaction results in a decrease in Assets, Liabilities or Owner's Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced. See Illustration 1-8 for example.) Assets Accounts Receivable Cash + + Supplies + Equipmei 1. $ TA $ $ 2. 3. 4. 5. 6. 7. 8. 9. 10. $ $ $ $ $ S TRAVEL AGENCY Liabilities Owner's Equity Accounts Payable Owner's Capital Owner's Drawings + Revenues $ $ $ $ tA $ Expenses $ $ ta
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