Given the following T-accounts, describe the transaction that took place on each specified date during July: begin{tabular}{ll|ll}

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Given the following T-accounts, describe the transaction that took place on each specified date during July:

\begin{tabular}{ll|ll}

\multicolumn{4}{c}{ Cash } \\

\hline $7 / 5$ & 9,500 & $7 / 1$ & 3,420 \\

$7 / 28$ & 8,000 & $7 / 23$ & 2,000 \\

& & $7 / 25$ & 5,000 \\

& & $7 / 30$ & 5,500 \\

\hline Bal. & 1,580 & &

\end{tabular}

\begin{tabular}{rr|lr}

\multicolumn{3}{c}{ Accounts } & Receivable \\

\hline $7 / 14$ & 18,000 & $7 / 5$ & 9,500 \\

& & $7 / 28$ & 8,000 \\

\hline Bal. & 500 & & \\

& &

\end{tabular}

\begin{tabular}{lr|rr}

\multicolumn{4}{c}{ Inventory } \\

\hline $7 / 10$ & 20,000 & $7 / 14$ & 15,000 \\

\hline Bal. & 5,000 & & \\

& & &

\end{tabular}

Sales Revenue

$\frac{\text { Cost of Goods Sold }}{7 / 14 \quad 15,000}$

Rent Expense

$\begin{array}{ll}7 / 14 & 18,000\end{array}$

Advertising Expense

$7 / 1 \quad 3,420$

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Related Book For  book-img-for-question

Survey Of Accounting

ISBN: 9780538846172

1st Edition

Authors: James D. Stice, W. Steve Albrecht, Earl Kay Stice, K. Fred Skousen

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