The following transactions occurred for O'Connor Technology Solutions: View the transactions. Read the requirement. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) May 1: The business received cash of $75,000 and gave capital to Adam O'Connor. Date Accounts and Explanation May 1 Debit C Credit Transactions May 1 May 2 May 4 May 6 May 9 May 17 May 19 May 20 May 21 May 23 May 31 The business received cash of $75,000 and gave capital to Adam O'Connor. Purchased supplies on account, $760. Paid $54,000 cash for building and land. The building had fair marke value of $44,000. Performed services for customers and received cash, $3,200. Paid $510 on accounts payable. Performed services for customers on account, $3,300. Paid rent expense for the month, $1,300. Received $1,500 from customers for services to be performed next month. Paid $200 for advertising in next month's IT Technology magazine. Received $2,700 cash on account from a customer. Incurred and paid salaries, $1,600.

The following transactions occurred for O'Connor Technology Solutions: View the transactions. Read the requirement. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) May 1: The business received cash of $75,000 and gave capital to Adam O'Connor. Date Accounts and Explanation May 1 Debit C Credit Transactions May 1 May 2 May 4 May 6 May 9 May 17 May 19 May 20 May 21 May 23 May 31 The business received cash of $75,000 and gave capital to Adam O'Connor. Purchased supplies on account, $760. Paid $54,000 cash for building and land. The building had fair marke value of $44,000. Performed services for customers and received cash, $3,200. Paid $510 on accounts payable. Performed services for customers on account, $3,300. Paid rent expense for the month, $1,300. Received $1,500 from customers for services to be performed next month. Paid $200 for advertising in next month's IT Technology magazine. Received $2,700 cash on account from a customer. Incurred and paid salaries, $1,600.

Name: The following transactions occurred for O'Connor Technology Solutions
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Description: The following transactions occurred for O'Connor Technology Solutions:View the transactions.Read the requirement. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.)May 1: The business received ca

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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