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Selected transactions from the journal of Galaxy Inc. during its first month of operations are presented here.
Date
Account Titles
Debit
Credit
Aug. 1
Cash
8,000
Common Stock
10
1,700
Service Revenue
12
Equipment
6200
1200
Notes Payable
5000
25
Accounts Receivable
3400
31
600
Instructions
(a) Post the transactions to T accounts.
(b) Prepare a trial balance at August 31, 2012.
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