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Prepare the following journal entries for the current month of February: Marshall Tucker invested $200,000 cash, $50,000 supplies, and equipment valued at $350,000 to start
Prepare the following journal entries for the current month of February: Marshall Tucker invested $200,000 cash, $50,000 supplies, and equipment valued at $350,000 to start a service business. The business paid $24,000 in advance for rent. The payment represented 12 months of rent. The business purchased additional supplies for $12,000 cash. The business paid $1,700 for insurance for the current month of February. The business provided services to a customer for $5,800 and collected the cash immediately
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