Solution-Create T accounts for Cash

Create T accounts for Cash

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Reference no: EM132720761

Problem - Richard Gibbs began a business called Richard's Shoe Repair.

1. Create T accounts for Cash; Supplies; Richard Gibbs, Capital; and Utilities Expense. Identify the following transactions by letter and place them on the proper side of the T accounts:

a. Invested cash in the business, $6,500.

b. Purchased supplies for cash, $700.

c. Paid utility bill, $2,700.

2. Foot the T account for cash and enter the ending balance.

Reference no: EM132720761

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Create T accounts for Cash

Reference no: EM132720761

Reference no: EM132720761

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