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Taste of Home Treats Bakery (THT) ended its first year of operations on December 31, 2015. During 2015, the following transactions occurred: (Click the icon
Taste of Home Treats Bakery (THT) ended its first year of operations on December 31, 2015. During 2015, the following transactions occurred: (Click the icon to view the transactions.) THT uses the following chart of accounts: (Click the icon to view the chart of accounts.) January 10: The owners of THT invested $203,000 (the par value of the stock) and Requirement Prepare the journal entries in the general journal format for THT's transactions using appropriate account numbers. (Record debits first, then credits. Exclude explanations from any journal entries.) The owners of THT invested $203,000 (the par value of the stock) and acquired 20, 300 shares of common stock. THT purchased equipment in the amount of $52,000 on credit account with the vendor. THT purchased supplies in the amount of $19,000 and paid cash. THT collected $81,000 in sales revenue for the month, all of which was paid in cash. Ignore Cost of Goods Sold. THT paid employees $19,000 in cash for wages. THT purchased supplies in the amount of $13,000 on credit account with the supplier. THT paid the balance due to the equipment vendor for the purchase made on March 15. THT paid the balance due to the supplier for the purchase made on July 31. THT recorded sales revenue in the amount of $213,000, half on credit and the other half paid in cash. Ignore Cost of Goods Sold. The customers who owed THT for the November 30 purchases paid their balances in full with cash
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