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