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Prepare journal entries and post to t-accounts transaction

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Reference no: EM132604509

Question 1: Prepare journal entries and post to T-accounts the following transactions of Toronto Building Supplies:

a. Cash sales, $10,000; items sold cost $4,500

b. Collections on accounts, $8,500

c. Paid cash for wages, $3,500

d. Acquired inventory on open account, $5,000

e. Paid cash for janitorial services, $550

Reference no: EM132604509

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