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The transactions of Spade Company: a. Kacy Spade, owner, invested $100,750 cash in the company in exchange for common stock. b. The company purchased office
The transactions of Spade Company: |
a. | Kacy Spade, owner, invested $100,750 cash in the company in exchange for common stock. |
b. | The company purchased office supplies for $1,250 cash. |
c. | The company purchased $10,050 of office equipment on credit. |
d. | The company received $15,500 cash as fees for services provided to a customer. |
e. | The company paid $10,050 cash to settle the payable for the office equipment purchased in transaction c. |
f. | The company billed a customer $2,700 as fees for services provided. |
g. | The company paid $1,225 cash for the monthly rent. |
h. | The company collected $1,125 cash as partial payment for the account receivable created in transaction f. |
i. | The company paid $10,000 cash in dividends to Spade (sole shareholder). |
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I've gotten a few filled out, office supplies 1250, office equipment 10050, and rent expense as 1225. However, I got confused from there on. If you can please provide explanations as well! Thank you.
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