Alan Marshall is preparing his balance sheet and income statement for the month ended July...
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Accounting
Alan Marshall is preparing his balance sheet and income statement for the month ended July 31, 2016. Use the following information to help him prepare his financial statements. es-July 1.2016 $9,000 Contents of Home $600 $26900 $268,800 $10,700 $157 700 Cash Automobile House Unpaid Accounts Mortgage Net Worth $136,900 Transactions for the month of July 1. Purchased new jewelry worth $1 400 for home using the credt card 2. Paid credit card bill with 54,400 cash 3 Paid utility bills of 51,000 for the month of July using a credit card 4 Pald for entertainment with $2,300 cash 5 Made a principal payment of 51 500 on the mortgage 6 The car broke down and paid for a rental with 5600 cash 7 Deposited $7 300 salary earmed during the month Use the nagative sign for adsfidt Required a) Using the information provided, record the opaning balances in the T accounts b) Record the transactions for she month of July in the T accounts
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