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Topic 3: Assignment 4 - T-Accounts Record each of the following transactions, using T-Accounts July 1) You invest $97,000 cash to start a business. July 2) You withdraw $1400 cash from your business for personal use. July 3) You pay $41,000 cash for advertising for your business. July 4) You earn $62,000 in fees for services rendered. The customer financed the entire amount there was no down payment ument for $50.009. You made a $25,000 down payment and financed the balance.

Topic 3: Assignment 4 - T-Accounts Record each of the following transactions, using T-Accounts July 1) You invest $97,000 cash to start a business. July 2) You withdraw $1400 cash from your business for personal use. July 3) You pay $41,000 cash for advertising for your business. July 4) You earn $62,000 in fees for services rendered. The customer financed the entire amount there was no down payment ument for $50.009. You made a $25,000 down payment and financed the balance.

FINANCIAL ACCOUNTING
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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Topic 3: Assignment 4 - T-Accounts Record each of the following transactions, using T-Accounts July 1) You invest $97,000 cash to start a business. July 2) You withdraw $1400 cash from your business for personal use. July 3) You pay $41,000 cash for advertising for your business. July 4) You earn $62,000 in fees for services rendered. The customer financed the entire amount - there was no down payment July 5) You purchase equipment for $50,000. You made a $25,000 down payment and financed the balance.
Transcribed Image Text:Topic 3: Assignment 4 - T-Accounts Record each of the following transactions, using T-Accounts July 1) You invest $97,000 cash to start a business. July 2) You withdraw $1400 cash from your business for personal use. July 3) You pay $41,000 cash for advertising for your business. July 4) You earn $62,000 in fees for services rendered. The customer financed the entire amount - there was no down payment July 5) You purchase equipment for $50,000. You made a $25,000 down payment and financed the balance.
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