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Selected transactions from the journal of Sheffield Corp., are presented as follows. Date Account Titles and Explanation Aug. 1 Cash Common Stock Debit Credit 5,990
Selected transactions from the journal of Sheffield Corp., are presented as follows. Date Account Titles and Explanation Aug. 1 Cash Common Stock Debit Credit 5,990 5,990 (Issued common stock for cash) 10 10 Cash 2,730 Service Revenue 2,730 (Received cash for services performed) 12 12 Equipment 5,160 Cash 850 4,310 Notes Payable (Purchased office equipment for cash and notes payable) 25 25 Account Receivable Service Revenue 1,460 1,460 (Billed clients for services performed) 31 Cash 910 910 Accounts Receivable (Receipt of cash on account) (a) 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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