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[The following information applies to the questions displayed below.] Yi Min started an engineering firm called Min Engineering. He began operations and completed seven transactions
[The following information applies to the questions displayed below.] Yi Min started an engineering firm called Min Engineering. He began operations and completed seven transactions in May, which included his initial investment of $20,500 cash. After those seven transactions, the ledger included the following accounts with normal balances. The following seven transactions produced the account balances shown above. a. Y. Min invested $20,500 cash in the business in exchange for common stock. b. Paid $8,430 cash for monthly rent expense for May. c. Paid $4,400 cash in advance for the annual insurance premium beginning the next period. d. Purchased office supplies for $940 cash. e. Purchased $12,100 of office equipment on credit (with accounts payable). f. Received $44,000 cash for services provided in May. g. The company paid a $3,409 cash dividend. 2. Prepare a Cash T-account for the above transactions, and compute the ending Cash balance. Code each entry with one of the transaction codes a through g
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