Discuss the external transactions for terapin company

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Reference no: EM131519584

Question: Terapin Company engages in the following external transactions for November.

1. Purchase equipment in exchange for cash of $22,400.

2. Provide services to customers and receive cash of $5,800.

3. Pay the current month's rent of $1,100.

4. Purchase office supplies on account for $900.

5. Pay employees' salaries of $1,600 for the current month.

Required: Record the transactions. Terapin uses the following accounts: Cash, Supplies, Equipment, Accounts Payable, Service Revenue, Rent Expense, and Salaries Expense.

Reference no: EM131519584

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