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On August 31, the balance sheet of Bramble Corp showed Cash $11.000, Accounts Receivable $3,700, Supplies $600, Equipment $6,000. Accounts Payable $5.600. Common Stock
On August 31, the balance sheet of Bramble Corp showed Cash $11.000, Accounts Receivable $3,700, Supplies $600, Equipment $6,000. Accounts Payable $5.600. Common Stock $14.900. and Retained Earnings $800. During September, the following transactions occurred. 1 Paid $3,450 cash for accounts payable due 2. Collected $1.500 of accounts receivable. 3 Purchased additional equipment for $2.500, paying $700 in cash and the balance on account. 4 Recognized revenue of $6,000, of which $3.150 is collected in cash and the balance is due in October. 5 Declared and paid a $850 cash dividend. 6 Paid salaries $1,850, rent for September $1,150, and advertising expense $150 7 Incurred utilities expense for month on account $270. B Received $10,500 from Capital Bank on a 6-month note payable. (a)
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