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Question: Recording events in the general journal, posting it to T-accounts, and preparing trial balance The following events apply to Computer Services Inc. in the

Question: Recording events in the general journal, posting it to T-accounts, and preparing trial balance

The following events apply to Computer Services Inc. in the first year of operation:

  1. Acquired $100,000 cash from the issue of common s tock
  2. Performed services and received cash $50,000.
  3. Incurred cas operating expenses $15,200.
  4. Received an advance $20,000 for services to be provided in future
  5. Reocgnized $450 of accrued interest revenue.
  6. Paid $2,400 cash for salary expense.
  7. Purchased $1,600 of supplies on account
  8. Recognized $10,000 of revenue for services provided in event 4.
  9. Recorded $1,600 of accrued salary expense
  10. Provided services on account $20,000
  11. Paid $2,000 cash dividend to shareholders.
  12. A physical examination of end of the year showed that only $200 worth supplies remaining in the company.

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