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Problem 1: Part A - Write the journal entries for the current year. Jan. 2 - Owner Paul Jones invests $30,000 in business. Jan. 5
Problem 1:
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Jan. 2 - Owner Paul Jones invests $30,000 in business. | ||||||
Jan. 5 - Paul receives $1,000 cash for fees earned from customer. | ||||||
Jan. 8 - Paul invoices customer on account for $400 for fees earned. | ||||||
Jan. 10 - Paul recevices $300 from customer on their account. | ||||||
Jan. 11 - Paul Purchases $100 of supplies on account. | ||||||
Jan. 12 - Paul withdrawls $2,000 cash. |
Part B - Post to ledgers the above journal entries and balance after each transaction. | ||||
Assume all entries are on journal page 1 for post reference in ledgers. | ||||
Place account numbers as post reference in the journal when done posting.
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