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Write journal entries in proper form for the following economic transactions for the entity Two Guys, Inc. 1 . Sold goods for $ 1 ,

Write journal entries in proper form for the following
economic transactions for the entity Two Guys, Inc.
1.Sold goods for $1,417 on account which includes 9% sales tax. The goods were sold under terms 3/10 Net 45. The goods are carried within inventory at $400.
2. Purchased Inventory on account for $450 under terms 2/15, n/45.
3. Performed a job for a customer and immediately received payment. The job was comprised of $350 for sales of product (which are held in inventory at $140) and services for $100. Additionally, sales tax of 8% applies.
4. Received payment on the transaction shown in transaction #1 above on the 7th day.
5. Paid rent of $1,400 which includes both the current month and next month.
6. Accrued Utilities Expense for the current month of $134.
7. The Company received payment of $1,500 for work to be performed next quarter.
8. Performed services on account for $1,000
9. The Company acquired $5,600 of equipment, putting 15% down and financing the remainder with a 5 year 6.5% note payable.
10. Paid for the Inventory purchased in transaction #2 above on the 14th day.

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