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The transactions of Spade Company appear below. a. Kacy Spade, owner, invested $19,000 cash in the company in exchange for common stock. b. The company
The transactions of Spade Company appear below. a. Kacy Spade, owner, invested $19,000 cash in the company in exchange for common stock. b. The company purchased office supplies for $551 cash. c. The company purchased $10,507 of office equipment on credit. d. The company received $2,242 cash as fees for services provided to a customer. e. The company paid $10.507 cash to settle the payable for the office equipment purchased in transaction c. f. The company billed a customer $4,028 as fees for services provided. g. The company paid $530 cash for the monthly rent. h. The company collected $1,692 cash as partial payment for the account receivable created in transaction f i. The company paid a $1,200 cash dividend to the owner (sole shareholder). Prepare the Trial Balance. Use May 31 as its report date. SPADE COMPANY Trial Balance Cash May 31 $ Debit Credit 19,000 Common stock 19,000 Cash 551 Office supplies 551 Cash 10,507 Accounts payable 10,507 Cash 4,028 Fees earned 4,028 Cash 530 Rent expense 530 Totals $ 34,616 $ 34.616
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