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Terrapin Company engages in the following external transactions for November. 1. Purchase equipment in exchange for cash of $22,600. 2. Provide services to customers and
Terrapin Company engages in the following external transactions for November. 1. Purchase equipment in exchange for cash of $22,600. 2. Provide services to customers and receive cash of $4,700. 3. Pay the current month's rent of $900. 4. Purchase office supplies on account for $1,200. 5. Pay employee salaries of $2,200 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
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