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Sutton invested $ 1 5 6 , 0 0 0 in cash to start the business. Paid $ 5 , 6 0 0 for the
Sutton invested $ in cash to start the business.
Paid $ for the current months rent.
Bought office furniture for $ in cash.
Performed services for $ in cash.
Paid $ for the monthly telephone bill.
Performed services for $ on credit.
Purchased a computer and copier for $; paid $ in cash immediately with the balance due in days.
Received $ from credit clients.
Paid $ in cash for office cleaning services for the month.
Purchased additional office chairs for $; received credit terms of days.
Purchased office equipment for $ and paid half of this amount in cash immediately; the balance is due in days.
Issued a check for $ to pay salaries.
Performed services for $ in cash.
Performed services for $ on credit.
Collected $ on accounts receivable from charge customers.
Issued a check for $ in partial payment of the amount owed for office chairs.
Paid $ to a duplicating company for photocopy work performed during the month.
Paid $ for the monthly electric bill.
Sutton withdrew $ in cash for personal expenses.
Prepare a trial balance, an income statement, a statement of owners equity, and a balance sheet. Assume that the transactions took place during the month ended June X Determine the account balances before you start work on the financial statements.
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