Questions, Classroom Demonstration Exercises, Exercises, and ... 5-3A. As the bookkeeper of Pete's Plowing of...
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Accounting
Questions, Classroom Demonstration Exercises, Exercises, and ... 5-3A. As the bookkeeper of Pete's Plowing of Fredericton, you have been asked plete the entire accounting cycle for Pete from the following information (see the t of accounts below): 3 Pete invested $7,000 cash and $6,000 worth of snow equipmen the plowing company. 3 Paid rent in advance for garage space, $2,000. 5 Purchased office equipment on account from Ling Corp., $7,20 6 Purchased snow supplies for $700 cash. 9 Collected $15,000 from plowing local shopping centres. 12 Pete Mack withdrew $1,000 from the business for personal use. 20 Plowed North East Co. parking lots, payment not to be receivec until March, \$5,000. 26 Paid salaries to employees, $1,800. 27 Paid Ling Corp. one-half amount owed for office equipment. 30 Advertising bill was received from Bush Co. but will not be paid until March, $900. 31 Paid telephone bill, \$210
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