(a)Received $12,000 from Katie Long, owner.Purchased equipment for $25,000, paying $10,000 in cash(b) and giving a note payable for the remainder.(c)Paid $1,800 for rent for April(d)Purchased $9,800 of supplies on account.(e)Recorded $2,250 of fees earned on account.(f)Received $9,000 in cash for fees eamed(g)Paid $300 to creditors on accountPaid wages of $1,650(h)Received $1,190 from customers on account.(i)()Recorded owner's withdrawal of $2,350 Account:Katie Long, CapitalAccount No.31BalancePostDateItemRef.DebitCreditDebitCreditKatie Long, DrawingAccount:Account No.32BalancePostRefDateItemDebitCreditDebitCredit

A T-account is prepared to record the transactions of business in the related account. The…

Answered: (a) Received $12,000 from Katie Long,…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Diana Rene’s deposited an inheritance of 13,050 in a bank account and earned 435 in Simple bankers interest at a rate of 10.5% find the length of time the money was on deposit
22 )
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Record each transaction in a journal entry. Explanations are not required.

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