Question
[The following information applies to the questions displayed below.] The transactions of Spade Company appear below. K. Spade, owner, invested $17,750 cash in the company
[The following information applies to the questions displayed below.] The transactions of Spade Company appear below. K. Spade, owner, invested $17,750 cash in the company in exchange for common stock. The company purchased supplies for $515 cash. The company purchased $9,816 of equipment on credit. The company received $2,095 cash for services provided to a customer. The company paid $9,816 cash to settle the payable for the equipment purchased in transaction c. The company billed a customer $3,763 for services provided. The company paid $525 cash for the monthly rent. The company collected $1,580 cash as partial payment for the account receivable created in transaction f. The company paid a $1,000 cash dividend to the owner (sole shareholder).
Question. Post entries to T-accounts and the ending balances will be calculated Post entries to T-accounts and the ending balances will be calculated.
Cash Accounts Receivable a. 17,750 525 2,095 d. 2,095 i. 1,000 Balance 2,095 Balance 18,320 Supplies Equipment Balance 0 Balance 0 Accounts Payable Common Stock Balance 0 Balance 0 Dividends Services Revenue Balance 0 Balance 0 Rent Expense Balance 0
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