Business, 26.08.2020 18:01 jazare05

Record the following selected transactions for January in a two‐column journal. Once you have completed that, answer questions 1 – 5 related to your work. (a) Earned $7,000 fees; customer will pay later. (b) Purchased equipment for $45,000, paying $20,000 in cash and the remainder on credit (c) Paid $3,000 for rent for January. (d) Purchased $2,500 of supplies on account. (e) A. Allen $1,000 investment in the company. (f) Received $7,000 in cash for fees earned previously. (g) Paid $1,200 to creditors on account. (h) Paid wages of $6,250. (i) Received $7,150 from customers on account. (j) A. Allen withdrawal of $1,750. 2. For part (h), which two accounts are affected? Question 2 options: Fees Earned and Cash Wages Expense and Cash Accounts Payable and Cash Rent Expense and Cash

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Record the following selected transactions for January in a two‐column journal. Once you have comple...

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