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XYZ Corporation has provided you with the following transactions for the month of March. Prepare the General Ledger accounts, Trial Balance, and Income Statement for

XYZ Corporation has provided you with the following transactions for the month of March. Prepare the General Ledger accounts, Trial Balance, and Income Statement for the month. Assume all transactions are exclusive of taxes. Use the following table format:

Date

Account Title

Debit ($)

Credit ($)

March 1

Rent Expense

2,500


March 5

Sales Revenue


10,000

March 10

Utilities Expense

800


March 15

Accounts Payable

3,000


March 20

Cash


15,000

March 25

Salary Expense

1,500


March 31

Depreciation Expense

600


Calculate the Trial Balance, Income Statement, and Taxes assuming a tax rate of 20%.

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