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Market-Probe a market research firm had the following transactions in june 2014, its first month of operations.
June 1 B.May invested $24000 cash in the firm in exchange for common stock. 1 The firm purchased the following: office equipment, $11040: office supplies, $2840. Terms are $4400 cash with the reminder due in60 days 2 Paid $875 cash for June rent owed to the landlord 2 Contracted for 3 months advertising in a local newspaper at$310 per month and paid for the advertising in advance. 2 Signed a 6-month contract with a customer to provideresearch consulting services at at a rate of $3200 per month. received to months fees in advance. Work on the contract started immediately.
a)Record these transactions using the financial statement effects templateb) prepare adjusting entries using the financial statement effectstemplate that reflect the following information at June 30,2014:
Adjusting entrees must also be prepared for advertising and serves fees per information in the June transactions
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