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Marybeth Carlberg opened a web consulting business called Med Billing and recorded the following transactions n its first month of operations. 1 Carlberg invests $95.000 cash along vith office equipment valued at $28,500 in the 2 The c prepaid $12,000 cash for twelve months rent for office space. The company's policy is record ompany prepaid expenses balance sheet accounts 3 The company nade credit purchas for $8,500 in office equipment and S4,100 in office supplies. Payment in due es within 10 days 6 The company completed services for a client and immediately received $5.500 cash 9 The company completed a $8,500 project for a client, who must pay within 30 days 13 The company paid s12,600 cash to settle the account payable created on April 2 s policy is record 12-month insurance Policy The company ompany paid $3,600 cash for the premium 19 The c prepaid expenses in balance sheet accounta work completed on April 9 22 The c received $5,100 cash partial payment for the The company work for another client for s4.400 on eredit 2B Carlberg withdrev s6,000 cash trom company for personal use ot on credit 30 The company paid $1,300 cash for this month's utility bil Descriptions of items that require adjusting entries on April 30, 2017, follow. a) On April the company prepaid s12000 cash for twelve months rent office b) The balance in insurance represents the premium for a 12-month insurance policy the policy's coverage begen c) supplies on hand as of April $1.700 5-year ife and a s220oo salvage value, is s250 per month. Straight-line of equipment, based on a yet billed the $2,000 fee. ent, but has not e) company has completed work for total S3. Wages due to but not yet paid, as of April 30 13 of 13

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