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Journalize the following transactions. During March the business engaged in the following transactions: ...

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Accounting

Journalize the following transactions. During March the business engaged in the following transactions:

Mar. 3 Borrowed $45,000 from the bank and signed a note payable in the name of the business.

5 Paid cash of $40,000 to a real estate company to acquire land in the town of Bancroft.

11 Performed service for a customer and received cash of $5,000.

12 Purchased supplies on account, $300.

14 Performed customer service and earned revenue on account, $2,600.

17 Paid $1,200 of the Accounts Payable balance from the March 1, 2017, trial balance.

19 Paid the following cash expenses: salaries, $3,000; rent, $1,500; and interest, $400.

20 Received $3,100 of the Accounts Receivable balance from the March 1, 2017, trial balance.

24 Received a $200 utility bill that will be paid next week.

27 John Cassiar withdrew $1,800 for personal use.

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