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Question 1 [30 points) Record these transactions of the Northstar Corp company by recording the debt and credit entries directly in the T-accounts. Use the
Question 1 [30 points) Record these transactions of the Northstar Corp company by recording the debt and credit entries directly in the T-accounts. Use the date for each transaction to identify the entries, placing the date in the left hand cell and the amount in the right hand cell on the appropriate side of the T-account. Then determine the balance of each account and write Balance (or Bal) next to it in the left hand cel on the appropriate side a May 1 Bert 2mm (a shareholder), received share capital in Northstar Corp after investing $40,000 cash and 310,000 worth of supplies in Northstar Corp b. May 2 Furniture was rented by a customer for 51 900 on credt May 5 Northstar Corp used credit to purchase $300 of supplies a May 7 Northstar Corp pada 1 500 received today for an advertising campaign that ran last week e May 10 Collected $1.000 regarding a creat customer's account 1 May 11 Northstar Corp paid $200 towards the bil from transaction (c) g May 12 A client rented equipment for $1.400 cash h May 14 $100 of supplies purchased on credit in transaction (e) were found to be defective They were returned May 18 Northstar Corp returned $300 of detective supplies today that were orginally purchased for cash Cash Accounts Receivable Supples Cash Accounts Receivable Supplies Prepaid Insurance Prepaid Rent Accounts Payable Share Capital Rent Earned Advertising Expense
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