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Pirates Incorporated had the following balances at the beginning of September. PIRATES INCORPORATED Trial Balance September 1 Accounts Debits Credits Cash $ 4,500 Accounts Receivable
Pirates Incorporated had the following balances at the beginning of September. PIRATES INCORPORATED Trial Balance September 1 Accounts Debits Credits Cash $ 4,500 Accounts Receivable 500 Supplies 5,600 Land 9,200 Accounts Payable $ 5,500 Notes Payable 1,000 Common Stock 7,000 Retained Earnings 6,300 Totals $19,800 $19,800 The following transactions occur in September. September 1 Provide services to customers for cash, $2,700. September 2 Purchase land with a long-term note for $4,400 from Crimson Company. September 4 Receive an invoice for $300 from the local newspaper for an advertisement that appeared on September 2. September 8 Provide services to customers on account for $4,000. September 10 Purchase supplies on account for $1,100. September 13 Pay $2,000 to Crimson Company for a long-term note. September 18 Receive $3,000 from customers on account. September 20 Pay $700 for September's rent. September 30 Pay September's utility bill of $1,000. September 30 Pay employees $2,000 for salaries for the month of September. September 30 Pay a cash dividend of $1,200 to shareholders. 4. Prepare a trial balance as of September 30. Credit PIRATES INCORPORATED Trial Balance September 30 Accounts Debit Cash Accounts Receivable Supplies Land Accounts Payable Notes Payable Common Stock Retained Earnings Dividends Service Revenue Salaries Expense Rent Expense Advertising Expense Utilities Expense Totals $ 0 $ 0
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