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Record the following selected transactions for January in a two-column journal. Once you have completed that, answer questions 1 - 5 related to your work.

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Record the following selected transactions for January in a two-column journal. Once you have completed that, answer questions 1 - 5 related to your work. (a) Earned $7,000 fees; customer will pay later. (b) Purchased equipment for $45,000, paying $20,000 in cash and the remainder on credit (c) Paid $3,000 for rent for January. (d) Purchased $2,500 of supplies on account. (e) A. Allen $1,000 investment in the company. (t) Received $7,000 in cash for fees earned previously. (g) Paid $1,200 to creditors on account (h) Paid wages of S6,250. (1) Received $7,150 from customers on account. C) A. Allen withdrawal of $1,750. 4. For part(), which accounts are affected? Supplies, Allen, Capital and Cash Accounts Receivable and Cash Cash and Accounts Receivable Allen, Withdrawal and Cash

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