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Question

This page i Order Coni El connect.. | (s) Farmingdal P" Farmingdal Farmingdal B aiz? ×- The Follow 2 https//m mheducation.com/flow/connect.html a. Brina Valdez invested $20,000 cash in the company. b. The company provided services to a client and immediately received $900 cash. c. The company received $10,000 cash from a client in payment for services to be provided next year. d. The company received $3,500 cash from a client in partial payment of accounts receivable. e. The company borrowed $5,000 cash from the bank by signing a note payable. 1. Prepare general journal entries for the above transactions of Valdez Services View transaction list Journal entry worksheet 2 Brina Valdez invested $20.000 cash in the company

Explanation / Answer

No Account title and explanation Debit Credit 1 Cash 20000 Owner's Capital 20000 (To record investment made) 2 Cash 900 Service Revenue 900 (To record revenue earned) 3 Cash 10000 Unearned service Revenue 10000 (To record advance receipt ) 4 Cash 3500 Accounts Receivable 3500 (To record receipt) 5 Cash 5000 Note Payable 5000 (To record burrowed money)

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