Determine the accounts and amounts to be debited

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Reference no: EM131853023

Question: A. Marilyn Monroe invested $68,000 in cash to start the firm

B. Issued check for $5,600 to pay the rent for current month.

C. Purchased an automobile that will be used to visit clients; issued check for $34,100 in full payment.

D. Purchased supplies for $1,120; paid immediately by check

E. Purchased office equipment for $20,900 on credit from Denton, Inc.; received invoice, payable in 30 days.

F. Performed service for $2,900 in cash.

G. Returned damaged supplies for a cash refund of $130.

H. Issued check for $18,800 to Denton, Inc., as payment on account

I. Paid $200 for monthly telephone bill by check.

J. Withdrew $660 in cash for personal expenses.

Determine the accounts and amounts to be debited and credited for the above transactions for Monroe's Auto Repair.

Reference no: EM131853023

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