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On September 1, 20X1, the account balances of Rand Equipment Repair, Inc. were as follows. No. Debits No. Credits 101 Cash 14,580 154 Accumulated 1,500

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On September 1, 20X1, the account balances of Rand Equipment Repair, Inc. were as follows. No. Debits No. Credits 101 Cash 14,580 154 Accumulated 1,500 Depreciation 112 Accounts 3,520 201 Accounts Payable 3,400 Receivable 126 Supplies 2,000 210 Notes Payable 10,000 131 Prepaid Insurance 300 212 Unearned Service 1,400 Revenue 153 Store Equipment 15,000 213 Salaries Payable 500 311 Share Capital-Ordinary 15,000 320 Retained Earnings 3,600 35,400 35,400 \"Transactions in September and adjustment data are shown in blackboard. ** The information will be released on 28 September 2020, 14:30 pm The alternative treatment in Slide 18 of Lecture 4 powerpoints is not adopted by Rand Equipment Repair, Inc. Instructions (The following is the procedures of the accounting cycle after analyzing the source documents for transactions taken place) (a) (b) (C) (d) (E) (f) (g) Enter the September 1 balances in the ledger accounts. (for your own reference) J ournalize the September transactions. Use the following additional accounts: No.133 Prepaid Rent No.211 Interest Payable No.331 Dividends No.400 Service Revenue, No.615 Depreciation Expense, No.617 Interest Expense, No. 618 Insurance Expense, No.631 Supplies Expense, No.726 Salaries Expense, and No.729 Rent Expense. Post to the ledger accounts. (for your own reference) Prepare a trial balance at September 30. J ournalize and post adjusting entries. (the posting is for your own reference) Prepare an adjusted trial balance. (for your own reference) Prepare an income statement and a retained earnings statement for September and a statement of financial position as at September 30

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