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Walmart Inc. has the following transactions for September 2024: Issued common stock for $500,000 cash. Purchased warehouse equipment for $100,000 cash. Paid $30,000 for September

Walmart Inc. has the following transactions for September 2024:

  • Issued common stock for $500,000 cash.
  • Purchased warehouse equipment for $100,000 cash.
  • Paid $30,000 for September rent.
  • Sold products for $300,000, with a cost of $200,000.
  • Paid $25,000 for utilities.

Required:

  1. Record these transactions in the general ledger.
  2. Prepare the trial balance as of September 30, 2024.
  3. Discuss the importance of maintaining accurate ledger entries in financial accounting.

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