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Consider the following transactions.
1. Receive cash from customers, $15,000.
2. Pay cash for employee salaries, $9,000.
3. Pay cash for rent, $3,000.
4. Receive cash from sale of equipment, $8,000.
5. Pay cash for utilities, $1,000.
6. Receive cash from a bank loan, $4,000.
7. Pay cash for advertising, $7,000.
8. Purchase supplies on account, $3,000.
Required: Post transactions to the Cash T-account and calculate the ending balance. The beginning balance in the Cash T-accow1t is $5,000.

Sagot :

jepessoa

Answer:

          Cash account

Transaction              Debit                    Credit

Big. bal.                     5,000

1.                                15,000

2.                                                            9,000

3.                                                            3,000

4.                               8,000

5.                                                            1,000

6.                               4,000

7.                                                            7,000

8.                                       NO ENTRY

Ending bal.               12,000

Transaction number 8 is not included since an accounts payable is created, there is no cash outflow.

Explanation:

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