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So I did most of this problem but I have a few wrong and can't figure out what I'm doing wrong. I believe in Exercise
So I did most of this problem but I have a few wrong and can't figure out what I'm doing wrong. I believe in Exercise 3-20, numbers 2 and 3 are wrong, which is messing up the whole problem. Whatever the problem is, I need help with the entire problem as a whole.
Exercise 3-20 Record transactions and prepare adjusting entries, adjusted trial balance, financial statements, and closing entries (LO3-3, 3-4, 3-5, 3-6, 3-7) The following information applies to the questions displayed below On January 1, 2018, Red Flash Photography had the following balances: Cash, $12,000; Supplies, $8,000; Land, $60,000; Deferred Revenue, $5,000; Common Stock $50,000, and Retained Earnings, $25,000. During 2018, the company had the following transactions: . February 15 Issue additional shares of common stock, $20,000. 2. May 20 Provide services to customers for cash, $35,000, and on account, $30,000. 3. August 31 Pay salaries to employees for work in 2018, $23,000. 4. October 1 Purchase rental space for one year, $12,000. 5. November 17 Purchase supplies on account, $22,000. 6. December 30 Pay dividends, $2,000. 9200 2 0ce The following information is available on December 31, 2018: . Employees are owed an additional $4,000 in salaries. 2. Three months of the rental space has expired. 3. Supplies of $5,000 remain on hand. 4. All of the services associated with the beginning deferred revenue have been performedStep by Step Solution
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