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On October 1 Mostafa started his business.The following selected transactions occurred during October.

Oct. 1 Mostafa invested $ 50,000 cash in the business.
4 Purchased equipment costing $20,000 for cash.
8 Incurred advertising expense of $2,800 on account.
11 Paid salaries to employees $1,500.
12 Hired a store manager at a salary of $4,000 per month, effective April 1.
13 Paid $3000 cash for a one-year insurance policy.
17 Withdrew $3,000 cash for personal use.
30 Paid $900 on balance owed for advertising incurred on October 8.

Instructions:
Journalize the October transactions.

 

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M946900

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