Selected transactions for the Basler Corporation during its

first month #8492

Selected transactions for the Basler Corporation during its first month in business are presented
below:Sept. 1 Issued common shares for $20,000 cash.2 Performed $9,000 of services on
account for a customer.4 Purchased equipment for $12,000, paying $5,000 in cash and
borrowing the balance from the bank.10 Purchased $500 of supplies on account.25 Received
$4,500 cash in advance for architectural services to be provided next month.30 Paid account
owing for supplies (see September 10 transaction).30 Collected $5,000 on account owing from
customer (see September 2 transaction).InstructionsFor each of the above transactions, do the
following:(a) Prepare a basic analysis.(b) Prepare an equation analysis.(c) Prepare a debit-
credit analysis.(d) Journalize the transaction.(e) Using T accounts, post the journal entry to the
general ledger.View Solution:
Selected transactions for the Basler Corporation during its first month

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