Record these transactions of the XYZ Corporation company by debit and credit entries directly in the T-accounts . Use the date for each transaction to
Record these transactions of the XYZ Corporation company by debit and credit entries directly in the T-accounts . Use the date for each transaction to identify each entries , placing the date in the left hand cell and amount in the right hand cell on the appropriate side of the T-account . Then determine the balance of each account and write 'balance' next to it , in the left hand cell on the appropriate side .
a. November 1: Avery Wilson received share capital in XYZ Corporation after investing $50000 cash into business.
b. November 2: One of XYZ corporation's clients rented equipment today for $1800 on credit.
c. November 4: XYZ Corporation bought $600 of supplies paying $100 cash and $500 on account .
d. November 7: XYZ Corporation received a bill today for this month's water utilities ;$150 . it will be paid within 30 days .
e. November 8 : A client rented equipment for $900 cash .
f. November 10 : XYZ Corporation returned $100 of defective supplies today that were originally purchased for cash .
g. November 13. XYZ Corporation $700 towards payment for the services provided in transaction (b)
h. November 16: XYZ Corporation paid this month's $200 electrical utilities bill received today.
i. November 18: XYZ Corporation paid $400 towards the bill from transaction(c).
j. November 19 : XYZ Corporation paid $400 for supplies purchased today .
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