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Use the following to answer questions 21 27 ASSETS LIABILITIES & STOCKHOLDERS EQUITY INCOME STATEMENT ACCOUNTS A. Cash F. Accounts Payable K. Service Revenue B.

Use the following to answer questions 21 27

ASSETS

LIABILITIES &

STOCKHOLDERS EQUITY

INCOME STATEMENT ACCOUNTS

A. Cash

F. Accounts Payable

K. Service Revenue

B. Accounts Receivable

G. Salaries Payable

L. Advertising expense

C. Supplies

H. Deferred revenue

M. Rent Expense

D. Prepaid advertising

I. Notes Payable

N. Salaries/Wage expense

E. Equipment

J. Retained Earnings

O. Utilities expense

February 1st transaction is completed as an example: Only include the letter of the account not the account name.

Date

Transaction

AMOUNT

February 01 (ex)

Paid an Accounts Payable

$500

February 2

Collected from customers for sales made in January

45,000

February 7

Paid employees for work performed in January

34,000

February 14

Purchased supplies on account

495

February 15

Provided services to cash customers

15,000

February 28

Recorded salaries for February, will pay in March

25,000

February 28

Received cash in advance from customers will provide service later

3,000

Date

Account

Debit

Credit

ex

FEB 1

F Account payable (L-)

500

A Cash (A-)

500

21.

Feb 2

22.

Feb 7

23.

Feb 14

24.

Feb 15

25.

Feb 28

26.

Feb 28

Cash

10,000

27. $__________If January 31st cash was $10,000, what is the cash balance at the end of the day on 2/28?

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