You are given the following list of accounts with dollar amounts: Rent Expense- $450 Cash-$1,725 Service Revenue- $750 M. Powell, Withdrawals-$375 Accounts Payable-$600 M. Powell, Capital-$1,200 Insert each account name at the top of a corresponding T account as shown in the attached image, and enter the dollar amount as a normal balance in the account. Then show that the accounting equation is in balance

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Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.