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Question 3 Martinez Repair Shop had the following transactions during the first month of business as a proprietorship. Journalize the transactions. (If no entry is
Question 3 Martinez Repair Shop had the following transactions during the first month of business as a proprietorship. Journalize the transactions. (If no entry is required, select "No entry" for the account titles and enter o for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Aug. 2 Invested $11,510 cash and $2,570 of equipment in the business. 7 Purchased supplies on account for $460. (Debit asset account.) 12 Performed services for clients, for which $1,231 was collected in cash and $701 was billed to the clients. 15 Paid August rent $568. 19 Counted supplies and determined that only $268 of the supplies purchased on August 7 are still on hand. Date Account Titles and Explanation Debit Credit Aug. 2 Aug. 12 SHOW LIST OF ACCOUNTS Included in Bridgeport Company's December 31 trial balance is a note receivable of $10,800. The note is a 4-month, 10% note dated October 1. Prepare Bridgeport's December 31 adjusting entry to record $270 of accrued interest, and the February 1 journal entry to record receipt of $11,160 from the borrower. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter o for the amounts. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit SHOW LIST OF ACCOUNTS
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