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Analyze the Following Transactions Using the T Account Approach $15,000\$ 15,000

Question 2

Essay

Analyze the following transactions using the T account approach.Place the dollar amount on the debit and credit sides.After all transactions have been recorded,foot the accounts where necessary and enter the balance in the proper place.
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1. Owner invested $15,000\$ 15,000 in a business.
2. Owner invested a truck worth $5,000\$ 5,000 into the business.
3. Cash received for services rendered for the month was $4,300\$ 4,300 .
4. Received a bill for $150\$ 150 for repairs.
5. Purchased a piece of equipment worth $1,500\$ 1,500 , making a down payment of $250\$ 250 .
6. Owner withdrew $1,400\$ 1,400 from the company. ​
Cash \begin{array}{cc}\text {Cash }\\\hline\begin{array}{ll|l}& \\\end{array}\end{array} ​
 Accounts Payable\begin{array}{cc}\text { Accounts Payable}\\\hline\begin{array}{ll|l}& \\\end{array}\end{array} ​
 Owner’s Capital\begin{array}{cc}\text { Owner's Capital}\\\hline\begin{array}{ll|l}& \\\end{array}\end{array} ​
 Truck\begin{array}{cc}\text { Truck}\\\hline\begin{array}{ll|l}& \\\end{array}\end{array} ​
Equipment \begin{array}{cc}\text {Equipment }\\\hline\begin{array}{ll|l}& \\\end{array}\end{array} ​
 Owner’s Drawing\begin{array}{cc}\text { Owner's Drawing}\\\hline\begin{array}{ll|l}& \\\end{array}\end{array} ​
Repair Expense \begin{array}{cc}\text {Repair Expense }\\\hline\begin{array}{ll|l}& \\\end{array}\end{array}  Revenue\begin{array}{cc}\text { Revenue}\\\hline\begin{array}{ll|l}& \\\end{array}\end{array}

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