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Terrapin Company engages in the following external transactions for November. Purchase equipment in exchange for cash of $20,900. Provide services to customers and receive cash
Terrapin Company engages in the following external transactions for November.
- Purchase equipment in exchange for cash of $20,900.
- Provide services to customers and receive cash of $5,900.
- Pay the current month's rent of $1,800.
- Purchase office supplies on account for $900.
- Pay employee salaries of $1,100 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.)
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