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28 January, 22:45

Consider the following transactions for Mittel Corporation:

Issue common stock for $14,000.

Purchase equipment for $11,400 cash.

Pay employees' salaries of $3,900.

Provide services to customers for $6,500 cash.

Required:

1. Post these transactions to the cash T-account. Assume the balance of cash before these transactions is $4,000.

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  1. 28 January, 23:01
    0
    The preparation of the Cash T-account is presented below:

    Cash Account

    Particulars Amount Particulars Amount

    Beginning balance $4,000 Equipment $11,400

    Common stock $14,000 Salaries expense $3,900

    Service revenue $6,500 Ending balance $9,200

    (Balancing figure)

    Total $24,500 Total $24,500
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Home » Business » Consider the following transactions for Mittel Corporation: Issue common stock for $14,000. Purchase equipment for $11,400 cash. Pay employees' salaries of $3,900. Provide services to customers for $6,500 cash. Required: 1.
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