Go to pg. 49* AA2-3 On Your OwnA-ZAnalyzing revenue, expense, and withdrawal transactions into debit andcredit partsT accounts are given in the Warking Papers. Work this problem independently.Use the chart of accounts for Plumbing Solutions in On Your Own 2-2.Transactions:June12. Paid cash for rent, $800.00.14. Received cash from sales, $68.00.15. Sold services on account to Theo Moses, $130.00.18. Paid cash to owner for a withdrawal of equity, $280.00.19. Received cash on account from Theo Moses, $130.00.1. Prepare two T accounts for each transaction. On each T account, write theaccount title of one of the accounts affected by the transaction.2. Write the debit or credit amount in each T account to show thetransaction's effect.INTL O 2:14

Here in this question, we are required to prepare T accounts for transactions. When any event and…

Answered: Transactions: June 12. Paid cash for…

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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1. Record journal entries for the following transactions of Furniture Warehouse. A. Aug. 3: Sold 15 couches at $114 each to a customer, credit terms 4/15, n/30, invoice date August 3; the couches cost Furniture Warehouse $14 each. B. Aug. 8: Customer returned 2 couches for a full refund. The merchandise was in sellable condition at the original cost. C. Aug. 18: Customer paid their account in full with cash.
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Transactions: June 12. Paid cash for rent, $800.00. 14. Received cash from sales, $68.00. 15. Sold services on account to Theo Moses, $130.00. 18. Paid cash to owner for a withdrawal of equity, $280.00. 19. Received cash on account from Theo Moses, $130.00.