On January 1, 2024, the general ledger of Dynamite Fireworks includes the following account balances:...
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Accounting
On January 1, 2024, the general ledger of Dynamite Fireworks includes the following account balances: Accounts Debit Credit Cash $25,000 Accounts Receivable 6,400 Supplies 4,300 Land 62,000 Accounts Payable $4,400 Common Stock 77,000 Retained Earnings 16,300 Totals $97,700 $97,700 During January 2024, the following transactions occur: January 2 Purchase rental space for one year in advance, $9,600 ($800/month). January 9 Purchase additional supplies on account, $4,700. January 13 Provide services to customers on account, $26,700. January 17 Receive cash in advance from customers for services to be provided in the future, $4,900. January 20 Pay cash for salaries, $12,700. January 22 Receive cash on accounts receivable, $25,300. January
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