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Required information [The following information applies to the questions displayed below.) Sye Chase started and operated a small family architectural firm in Year 1. The
Required information [The following information applies to the questions displayed below.) Sye Chase started and operated a small family architectural firm in Year 1. The firm was affected by two events: (1) Chase provided $24,300 of services on account, and (2) he purchased $4,800 of supplies on account There were $850 of supplies on hand as of December 31, Year 1 Required a. b. & e. Record the two transactions in the T-accounts. Record the required year-end adjusting entry to reflect the use of supplies and the required closing entries. Post the entries in the T-accounts and prepare a post-closing trial balance. (Select "a1, a 2, or b" for the transactions in the order they take place. Select "cl" for closing entries. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Accounts Receivable Supplies Beg. Bal Beg Bal End. Bal End. Bal. Accounts Payable Retained Earnings CD
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