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Katie's Wedding Planning Service completed the following transactions:a. Billed clients for ...

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Katie's Wedding Planning Service completed the following transactions:a. Billed clients for ...

Katie's Wedding Planning Service completed the following transactions:

a. Billed clients for service, $1,250.
b. Completed work for clients $200 on account.
c. Received a bill for utilities to be paid later, $120.
d. Collected $700 cash for services performed.
e. Paid the amount due for utilities.
f. Withdrew $500 cash for personal use.

Required: Record the above transactions in the expanded accounting equation. Note that the items have beginning balances.

   Katie's Wedding Planning Service

   ASSET   ASSET   =   LIAB.   OWNER'S EQUITY
   Cash +   Accts.Rec.   =   Accts Payable   Katie, Capital   +Rev.   -Exp   -Katie With.
beg.   $800   $85   =   $300   $235   $900   $400   $150
a.
b.
c.
d.
e.
f.
T

Textbook

College Accounting: A Practical Approach

Edition: 13^th

Author: Slater

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7 years ago

I was skeptical at first but decided to give this a try.

Happy I did, you guys are so smart

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