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Question 1 (note expand the Owners' equity to include revenues and expense) Record the following transactions for Fran's Tailoring Service in the expanded accounting equation
Question 1 (note expand the Owners' equity to include revenues and expense) Record the following transactions for Fran's Tailoring Service in the expanded accounting equation below. Then, compute the balance for each account. Transactions: a. Invested $12,000 cash and $6,000 worth of tailoring equipment in the business. b. Purchased office equipment on account, $2,000. c. Purchased tailoring supplies for cash, $200. d. Performed tailoring services for clients on credit, $850. e. Purchased tailoring equipment on credit, $2,560. f. Paid rent for September, $600. g. Performed tailoring services for clients and received cash, $650
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