Analyze transaction and prepare T accounts blues consulting services organized as a corporation on Mar 18...

Analyze transaction and prepare T accounts

blues consulting services organized as a corporation on Mar 18 and involved in the following transactions during it first two weeks of operation:

Mar 18 issued capital stock in exchange for $ 30,000 cash.

Mar 22 borrowed $20,000 from it's bank by issuing a note payable.

Mar 23 paid $100 for a radio advertisement aired on march 24.

Mar 25 provided $1,000 of services to client for cash.

Mar 26 provided $2,000 of services to clients on account.

Mar 31 collected $800 cash from clients for the services provided on march 26.

Required:

a)post each entry to the appropriate T account

Expert Solution

First we have to Journal Entries. Then we have to post to General Ledger / T Accounts.

ekkarill92 answered 2 years ago

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