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Selected transactions from the journal of Larkspur, Inc., are presented as follows. Date Account Titles and Explanation Debit Credit Aug. 1 Cash 6,260 Common Stock
Selected transactions from the journal of Larkspur, Inc., are presented as follows. Date Account Titles and Explanation Debit Credit Aug. 1 Cash 6,260 Common Stock 6,260 (Issued common stock for cash) 10 Cash 2,870 Service Revenue 2,870 (Received cash for services performed) 12 Equipment 5,020 Cash 860 Notes Payable 4,160 (Purchased office equipment for cash and notes payable) 25 Account Receivable 1,680 Service Revenue 1,680 (Billed clients for services performed) 31 Cash 850 Accounts Receivable 850 (Receipt of cash on account)Post the transactions to T-accounts. (Post entries in the order displayed in the problem statement.) Cash Accounts Receivable Equipment Notes Payable Common Stock Service Revenue
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