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Required information Use the following information for Exercises 13-14 below. (Algo) [The following information applies to the questions displayed below.] The transactions of Spade Company
Required information Use the following information for Exercises 13-14 below. (Algo) [The following information applies to the questions displayed below.] The transactions of Spade Company appear below. a. K. Spade, owner, invested $11,250 cash in the company. b. The company purchased supplies for $326 cash. c. The company purchased $6,221 of equipment on credit. d. The company received $1,328 cash for services provided to a customer. e. The company paid $6,221 cash to settle the payable for the equipment purchased in transaction c. f. The company billed a customer $2,385 for services provided. g. The company paid $530 cash for the monthly rent. h. The company collected $1,002 cash as partial payment for the account receivable created in transaction f. i. K. Spade withdrew $1,100 cash from the company for personal use. Exercise 2-13 (Algo) Recording effects of transactions in T-accounts LO A1 Required: 1. Prepare general journal entries to record the transactions of Spade Company by using the following accounts: Cash; Accounts Receivable; Supplies; Equipment; Accounts Payable; K. Spade, Capital; K. Spade, Withdrawals; Services Revenue; and Rent Expense. 2. Post entries to T-accounts and the ending balances will be calculated. Complete this question by entering your answers in the tabs below. Prepare general journal entries to record the transactions of Spade Company by using the following accounts: Cash; Accounts Receivable; Supplies; Equipment; Accounts Payable; K. Spade, Capital; K. Spade, Withdrawals; Services Revenue; and Rent Expense. Journal entry worksheet 567 K. Spade, owner, invested $11,250 cash in the company. Note: Enter debits before credits
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