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Transactions for Khalid for the month of September, 2016 are presented below. Khalid invested $450,000 to start his business. Purchased land costing $25,000 for cash. Purchased equipment costing $12,000 for $4,000 cash and the remainder on credit. Purchased supplies on account for $800. Paid $1,000 cash for insurance. Required: Prepare Journal entries to record the above transactions. Post to the appropriate ledger accounts. Prepare the trial balance

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Accounting 2 Months Ago 129 Views
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