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Please, can you help me answer what numbers are coming to those empty DEBIT and CREDIT BOXES? And how did you come to those numbers???
Please, can you help me answer what numbers are coming to those empty DEBIT and CREDIT BOXES? And how did you come to those numbers??? Thank you!
Check my work On January 1, 2021, Red Flash Photography had the following balances: Cash, $24,0000; Supplies, $9,200; Land, $72,000; Deferred Revenue, $6,200; Common Stock $62,000; and Retained Earnings, $37,000. During 2021, the company had the following transactions: 1. February 15 Issue additional shares of common stock, $32,eee. 20 Provide services to customers for cash, $47,eee, and on account, $42,00e. 31 Pay salaries to employees for work in 2021, $35,e00 1 Purchase rental space for one year, $24,e0e. 2. May 3. August 4. October 5. November 17 Purchase supplies on account, $34,0ee 6. December 30 Pay dividends, $3,20e. The following information is available on December 31, 2021: 1. Employees are owed an additional $5,200 in salaries. 2. Three months of the rental space has expired. 3. Supplies of $6,200 remain on hand. 4. All of the services associated with the beginning deferred revenue have been performed. Dec 31 Rent Expense Prepaid Rent Dec 31 Supplies Expense Supplies Dec 31 10 Deferred Revenue Service Revenue Dec 31 11 Service Revenue Retained Earnings Dec 31 Retained Earnings Salaries Expense Supplies Expense Retained Earnings Dec 31 Dividends 12 13Step by Step Solution
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