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Business, 13.09.2021 02:30 nickeymcorrea

Connie Young, an architect, opened an office on October 1, 2019. During the month, she completed the following transactions connected with her professional practice: Transferred cash from a personal bank account to an account to be used for the business, $36,700.
Paid October rent for office and workroom, $3,700.
Purchased used automobile for $24,000, paying $5,500 cash and giving a note payable for the remainder.
Purchased office and computer equipment on account, $7,300.
Paid cash for supplies, $1,760.
Paid cash for annual insurance policies, $2,500.
Received cash from client for plans delivered, $9,200.
Paid cash for miscellaneous expenses, $990.
Paid cash to creditors on account, $2,130.
Paid $290 on note payable.
Received invoice for blueprint service, due in November, $1,200.
Recorded fees earned on plans delivered, payment to be received in November, $6,300.
Paid salary of assistants, $1,900.
Paid gas, oil, and repairs on automobile for October, $480.
Required:

1. Record the above transactions (in chronological order) directly into the T accounts. To the left of the amount entered in the accounts, select the appropriate letter to identify the transaction.

2. Determine account balances of the T accounts. Accounts containing a single entry only (such as Prepaid Insurance) do not need a balance.

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Connie Young, an architect, opened an office on October 1, 2019. During the month, she completed the...
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