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Problem 2-60A Journalizing and Posting Transactions
Cincinnati Painting Service Inc. specializes in painting houses. During June, its first month of operations, Cincinnati Painting engaged in the following transactions:
June 1 Issued common stock for $25,000.
3 Purchased painting supplies from River City Supply for $1,675 on credit,
8 Purchased a used truck from Hamilton Used Car Sales for 513300. paying 31,500 down and agreeing to pay the balance in 6 months.
14 Paid $4230 to hourly employers for work performed in June.
22 Billed various customers a total of $10,340 for June painting jobs.
26 Received $6.100 cash from James Elton for a house painting job completed and previously billed.
29 Collected $52.0 from Albert Montgomery on completion of a 1-day painting job. This amount is not included in the June 22 bills.
Required:
1. Prepare a
2.
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Chapter 2 Solutions
Cornerstones of Financial Accounting
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