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Record the following transactions on the horizontal spreadsheet below. For each transaction, identify the letter(s) and the amount that would be recorded. You may
Record the following transactions on the horizontal spreadsheet below. For each transaction, identify the letter(s) and the amount that would be recorded. You may ignore all accounts that are not used to record the transaction. On May 1, V Company sold $41,000 worth of gift cards to customers for cash. The customers are expected to use the cards to purchase products within 2 years. On November 2, customers purchased $132.000 worth of products paying $114,000 cash and using gift cards for the remaining $18,000 worth of products. Balance Sheet Income Statement Cash Prepaid Insurance Supplies Utilities Payable Salaries Unearned Common Retained Payable Revenue Stock Earnings Net Revenue Expense Income 05/01 A B C D E F G H 1 J K 11/02 L M N P Q 20 R S T U V
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