Reference no: EM132476833
Required:
Question 1: Record the debit and credit in the appropriate account for each of the following transactions
Point 1. Issued common stock for cash
Point 2. Purchased equipment on credit
Point 3. Paid for a one-year insurance policy
Point 4. Billed a customer for repairs completed today
Point 5. Paid this month's rent
Point 6. Collected the amount billed in transaction 4 above
Point 7. Collected cash for repairs completed today
Point 8. Paid for the equipment purchased in transaction 2 above
Point 9. Signed a union contract
Point 10. Collected cash for repairs to be made for customers next month
Point 11. Transferred this month's portion of prepaid insurance to insurance expense.
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