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On August 1, 2022, the following were the account balances of Martinez Repair Services. Debit Credit Cash $5,440 Accumulated Depreciation-Equipment 540 Accounts Receivable 2,620
On August 1, 2022, the following were the account balances of Martinez Repair Services. Debit Credit Cash $5,440 Accumulated Depreciation-Equipment 540 Accounts Receivable 2,620 Accounts Payable 2,070 Notes Receivable 3,600 Unearned Service Revenue 1,130 Supplies 930 Salaries and Wages Payable 1,280 Equipment 9,000 Common stock 10,800 Retained Earnings 5,770 21,590 21,590 During August, the following summary transactions were completed. Aug 1 Paid $360 cash for advertising in local newspapers. Advertising flyers will be included with newspapers delivered during August and September. 3 Paid August rent $340. 5 Received $1,080 cash from customers in payment of account. 10 Paid $2,810 for salaries due employees, of which $1,530 is for August and $1.280 is for July salaries payable, 12 Received $2,520 cash for services performed in August
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