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Pembroke started a business. During the first month the following transaction occurred. a) invested cash in business, 18,000 b) bought office supplies fro 4,600: 2,000
Pembroke started a business. During the first month the following transaction occurred. a) invested cash in business, 18,000 b) bought office supplies fro 4,600: 2,000 in cash and 2,600 on account. c) aid one-year insurance premium 1,200 d) earned revenues totaling 3,300: 1,300 in cash and 2,000 on account e) paid cash on account to the company that supplied the office supplies in transaction b) 2,300 f) paid office rent for the month 750 g) withdrew cash for personal use, 100 SHow effect of each transaction on the individual accounts of the expanded accounting equation: Assets= Liabilities+Owner's equity (capital-drawing+revenues-expenses) After each transaction show the new account totals
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