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Question 5 of 8 View Policies Current Attempt in Progress Selected transactions from the journal of Novak Corp., are presented below. Date Credit Debit 24,000
Question 5 of 8 View Policies Current Attempt in Progress Selected transactions from the journal of Novak Corp., are presented below. Date Credit Debit 24,000 Aug. 1 24,000 10 10,800 10,800 12 20,000 Account Titles and Explanation Cash Common Stock (Investment of cash for stock) Cash Service Revenue (Received cash for services performed) Equipment Cash Notes Payable (Purchased office equipment for cash and notes payable) Account Receivable Service Revenue (Billed clients for services performed) Cash Accounts Receivable (Receipt of cash on account) 3,200 16,800 25 6,400 6,400 31 3,520 3,520 Post the transactions to T-accounts. (Post entries in the order displayed in the problem statement.)
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