Solution-Open a t account for each account

Open a t account for each account

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Reference no: EM133012031

Question - Jeans Jackets High Resolution Stock Photography and Images - Alamy Chaquetas y Jeans Co.'s accounting records include the following select unadjusted balances as of October 31, 2020:

Cash: $8,630

Accounts Payable: $6,250

Wages Payable: $4,800

Accounts Receivable: $12,000

Inventories: $10,700

Accumulated depreciation: $5,000

The data that have been developed for the adjustment entries as of November 30, 2020 are:

Cash Sales for $ 5,900 with inventory withdrawals costing $1,700

Collections (Accounts Receivable payment receipt): $8,600

Ending Inventory: $4,180

Wages owed to employees, $1,600

Monthly Depreciation Expense: $240

Required -

1. Open a T account for each account and record the adjustments directly to the T accounts, identifying each adjustment by means of a letter.

2. ?Show the adjusted balance for each account. Journal entries are not required.

Reference no: EM133012031

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Open a t account for each account

Reference no: EM133012031

Reference no: EM133012031

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