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Selected transactions from the journal of Larkspur, Inc., are presented as follows. ...

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Accounting

Selected transactions from the journal of Larkspur, Inc., are presented as follows.

Date

Account Titles and Explanation

Debit

Credit

Aug. 1

Cash

6,260

Common Stock

6,260

(Issued common stock for cash)

10

Cash

2,870

Service Revenue

2,870

(Received cash for services performed)

12

Equipment

5,020

Cash

860

Notes Payable

4,160

(Purchased office equipment for cash and notes payable)

25

Account Receivable

1,680

Service Revenue

1,680

(Billed clients for services performed)

31

Cash

850

Accounts Receivable

850

(Receipt of cash on account)

(a)

New attempt is in progress. Some of the new entries may impact the last attempt grading.

Your answer is partially correct.

Post the transactions to T-accounts. (Post entries in the order displayed in the problem statement.)

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