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Judi Salem opened a legislation workplace on July 1, 2017. On July 31, the stability sheet confirmed Money $5,300, Accounts Receivable $1,900, Provides $600, Tools $6,000, Accounts Payable $four,000, and Proprietor’s Capital $9,800. Throughout August, the next transactions occurred. 1. Collected $1,600 of accounts receivable.2. Paid $three,000 money on accounts payable.three. Acknowledged income of $7,300, of which $1,900 is collected in money and the stability is due in September.four. Bought further tools for $1,900, paying $400 in money and the stability on account.5. Paid salaries $1,700, hire for August $1,100, and promoting bills $350.6. Withdrew $700 in money for private use.7. Acquired $1,600 from Commonplace Federal Financial institution—cash borrowed on a notice payable.eight.
Incurred utility bills for month on account $270.
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