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Create t-account for accounts payable

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Reference no: EM132664339

Problem 1: The following transactions occurred during December, the first month of operations for Harris Company. Prepare journal entries and create T-account for accounts payable that includes the following five transactions.

1 Purchased $700 of inventory on account.

2 Purchased $500 of inventory on account.

3 Paid suppliers $800.

4 Purchased $600 of inventory on account.

5 Paid suppliers $500.

Reference no: EM132664339

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