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Terrapin Company engages in the following external transactions for November. 1. Purchase equipment in exchange for cash of $21,200. 2. Provide services to customers and
Terrapin Company engages in the following external transactions for November. 1. Purchase equipment in exchange for cash of $21,200. 2. Provide services to customers and receive cash of $4,700. 3. Pay the current month's rent of $1,000. 4. Purchase office supplies on account for $1,000. 5. Pay employee salaries of $2,400 for the current month. Required: Record the transactions. Terrapin uses the following accounts: Cash, Supplies, Equipment, Accounts Payable, Service Revenue, Rent Expense, and Salaries Expense. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet 1 2 3 4 5 Purchase equipment in exchange for cash of $21,200. > Note: Enter debits before credits. Transaction 1 General Journal Debit Credit View general journal Record entry Clear entry Journal entry worksheet < 1 2 3 4 5 Provide services to customers and receive cash of $4,700. Note: Enter debits before credits. Transaction 2 General Journal Debit Credit View general journal Clear entry Record entry > Journal entry worksheet < 1 2 3 4 Pay the current month's rent of $1,000. Note: Enter debits before credits. Transaction 3 General Journal Debit Credit View general journal Record entry Clear entry > Journal entry worksheet < 1 2 3 4 5 Purchase office supplies on account for $1,000. Note: Enter debits before credits. Transaction 4 General Journal Debit Credit View general journal Record entry Clear entry Journal entry worksheet < 1 2 3 4 5 Pay employee salaries of $2,400 for the current month. Note: Enter debits before credits. Transaction 5 General Journal Debit Credit View general journal Record entry Clear entry
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