Journalize the following transactions. Total your debits an…
Journalize the following transactions. Total your debits and credits to prove that they balance. You may omit descriptions. A business issued common stock for $20,000 cash. Paid $2,500 cash for advertising for the current month. Paid $4,000 cash for office equipment. Purchased $800 of office supplies on account. Recorded $7,000 of revenue, receiving half in cash and half will be received next moth. Note: If it helps to analyze these using the accounting equation, refer to Problem 13.
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