FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Record each of these transactions in
- 1st Sunny Barcelona started the business by depositing $50,000 received from the sale of capital stock in the company bank account.
- 22nd Purchased a building for $36,000, paying $6,000 in cash and issuing a note payable for the remaining $30,000.
- 25th Purchased tools and equipment on account, $13,800.
- 27th Sold some of the tools at a price equal to their cost, $1,800, collectible within 45 days.
- 2nd Received $600 in partial collection of the account receivable from the sale of tools.
- 7th Paid $6,800 in partial payment of an account payable.
- 11th Received $2,200 of sales revenue in cash.
- 2oth Purchased radio advertising from RAC105 to be aired in March. The cost was $470, payable within 30 days.
- 22nd Purchased office equipment for $15,000 cash.
- 26th Performed repair services and billed clients $2,000. The entire amount will not be collected until February.
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