Record the transactions using cash-accounts receivables


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Q: Please Record these transactions using the following titles: Cash , Accounts Receivable, Office Supplies, Office Equipment, Automobiles, Building, Land, Accounts Payable, Notes Payable, Common Stock, Dividend, Fees Earned, Salaries Expense, and Utilities Expense

a. Pense invested $86,000 cash along with office equipment valued at $20,000 in exchange for common stock of a new company named EP Consulting.

b. The company purchased land valued at $35,000 and a building valued at $165,000. The purchase is paid with $35,000 cash and a long-term note payable for $165,000.

c. The company purchased $2,300 of office supplies on credit.

d. Pense invested his personal automobile in the company in exchange for more common stock. The automobile has a value of $16,000 and is to be used exclusively in the business.

e. The company purchased $5,300 of additional office equipment on credit.

f. The company paid $1,900 cash salary to an assistant.

g. The company provided services to a client and collected $7,400 cash.

h. The company paid $630 cash for this month's utilities.

i. The company paid $2,300 cash to settle the account payable created in transaction c.

j. The company purchased $20,200 of new office equipment by paying $20,200 cash.

k. The company completed $7,000 of services for a client, who must pay within 30 days.

l. The company paid $1,800 cash salary to an assistant.

m. The company received $3,500 cash in partial payment on the receivable created in transaction k.

n. The company paid $2,700 cash for dividends.

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Accounting Basics: Record the transactions using cash-accounts receivables
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