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Open the following T-accounts in the ledger: Cash, $16,400; Accounts Receivable, $1,750; Supplies Inventory, $0; Office Supplies, $200; Prepaid Rent, $0; Equipment, $1,800; Accumulated DepreciationEquipment
- Open the following T-accounts in the ledger: Cash, $16,400; Accounts Receivable, $1,750; Supplies Inventory, $0; Office Supplies, $200; Prepaid Rent, $0; Equipment, $1,800; Accumulated DepreciationEquipment , $30; Furniture, $4,200; Accumulated DepreciationFurniture, $70; Accounts Payable, $4,700; Salaries Payable, $685; Unearned Revenue, $700; Common Stock $18,000; Retained Earnings $165; Dividends, $0; Income Summary, $0; Service Revenue, $0; Sales Revenue, $0; Cost of Goods Sold, $0; Salaries Expense, $0; Rent Expense, $0; Utilities Expense, $0; Depreciation ExpenseEquipment, $0; and Depreciation ExpenseFurniture, $0.
- Journalize and post the January transactions. Compute each account balance, and denote all the balance as Bal.
- Prepare the month ended January 31, 2020 income statement of Ambulance Supply Company. Use the multi-step format. List Service Revenue under gross profit and ignore classifying the expenses as selling and administrative.
- Journalize and post the closing entries. Denote each closing amount as Clo. After posting all closing entries, probe the equality of debits and credits in the ledger.
- Compute the gross profit percentage of Ambulance Supply Company.
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