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The following T accounts show transactions that were recorded by Residential Relocators, a firm that specializes in local housing rentals. The entries for the first
The following T accounts show transactions that were recorded by Residential Relocators, a firm that specializes in local housing rentals. The entries for the first transaction are labeled with the letter (a), the entries for the second transaction with the letter (b), and so on. Equipment 74,000 Accounts Receivable (f) 8,800 (g) (c) 2,400 (a) (d) (g) Cash 184,000 (b) 24,000 (e) 2,400 (h) (i) Accounts Payable (c) 40,000 640 10,400 4,400 74,000 Supplies 40,000 Wade Wilson, Capital (a) (b) 184,000 Fees Income Telephone Expense 640 Wade Wilson, Drawing (i) 4,400 (d) (f) 24,000 8,800 (e) Salaries Expense 10,400 (h) Determine the balance of each account. Balance Cash Accounts Receivable Supplies Equipment Accounts Payable Wade Wilson, Capital Wade Wilson, Drawing Fees Income Telephone Expense Salaries Expense
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