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What is the balance in the cash account on JAN 31st? I completed and provided info below. Jan. 18 Issued capital stock in exchange for
What is the balance in the cash account on JAN 31st? I completed and provided info below.
Jan. 18 Issued capital stock in exchange for $400,000 cash Jan. 22 Borrowed $100,000 from its bank by issuing a note payable. Jan.23 Paid $200 for a radio advertisement aired on January 24 Jan. 25 Provided $5,000 of services to clients for cash Jan.26 Provided $18,0000 of services to clients on account. Jan.31 Collected $4,200 cash from clients for the services provided on January 26 a. Record each of these transactions. b. Determine the balance in the Cash account on January 31. Be certain to state whether the balance is debit or credit. Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Record each of these transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Credit No Date General Journal Debit Cash Jan. 18 400,000 Capital stock 400,000 Jan. 22 2 Cash 100,000 Advertising expense 3 Jan. 23 200 Cash 4 Jan. 25 5,000 Accounts receivable 18,000 5 Jan. 26 6 Jan. 31 Cash 4,200
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