The consulting firm of Martin and Associates uses the accounts listed below. Record the opening balances as
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Question:
The consulting firm of Martin and Associates uses the accounts listed below. Record the opening balances as of December 1, 2019 on the normal balance side of the following T-Accounts. List of accounts with their opening balances:
- Paid $2,200for one month's rent.
- Collected $6,000 in cash from credit customers.
- Performed services for $8,200 in cash.
- Paid $5,200 for salaries.
- Issued a check for $4,200 to a creditor.
- Performed services for $11,200 on credit.
- Purchased office equipment for $2,200 on credit.
- The owner withdrew $4,200 in cash for personal expenses.
- Issued a check for $720 to pay the monthly utility bill.
Post the above transactions into the appropriate T accounts.
Using the information shown, make a trial balance for Martin and Associates at December 31, 2019.
Posted Date: