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Write up the asset and liability and capital accounts to record the following transactions in the records of G. Smith and balance off each account.

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Write up the asset and liability and capital accounts to record the following transactions in the records of G. Smith and balance off each account. (4 pts each) June 8 Sold some of the office furniture- not suitable for the firm- for $600 on credit to J. Walker & Sons June 15 Paid the amount owing to Bravo Motors $7,500 by cheque June 23 Received the amount due to J. Walker & Sons $600 in cash June 30 Bought more machinery by cheque $2,800

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