The following is list of accounts each represented by letter(s). Example of Answer:...
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The following is list of accounts each represented by letter(s). Example of Answer: G4000D,B2000D,GG5000C,HH1000C Where G denotes Cash account, 4000 is the amount, D stands for debit, B denotes Accounts Receivable account, 2000 is the amount, D stands for debit, GG denotes Service Revenues, 5000 is the amount, and C stands for credit, HH denotes Sales Taxes Payable, 1000 is the amount, C stands for Credit. The letters are in capital. Comma is used to separate the changes in each account. Don't use dollar sign, decimal point, or space in any place. If in an entry requires more than one debit or credit accounts, first enter debit accounts (in order of dollar amount - large amount to small amount), then the credit accounts (in order of dollar amount - large amount to small amount). Kamp Company engaged in leasing a machine for quality control that requires payment of $1,200 at the end of each month. The economic life of the machine is 5 years. Kamp Company normally is subject to 6% interest rate in business transactions. Assume leas period is 50 months. Provide journal entry on the date the lease contract was signed. Round amounts: 2.31=2;2.65=3
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The following is list of accounts each represented by letter(s). Example of Answer: G4000D,B2000D,GG5000C,HH1000C Where G denotes Cash account, 4000 is the amount, D stands for debit, B denotes Accounts Receivable account, 2000 is the amount, D stands for debit, GG denotes Service Revenues, 5000 is the amount, and C stands for credit, HH denotes Sales Taxes Payable, 1000 is the amount, C stands for Credit. The letters are in capital. Comma is used to separate the changes in each account. Don't use dollar sign, decimal point, or space in any place. If in an entry requires more than one debit or credit accounts, first enter debit accounts (in order of dollar amount - large amount to small amount), then the credit accounts (in order of dollar amount - large amount to small amount). Kamp Company engaged in leasing a machine for quality control that requires payment of $1,200 at the end of each month. The economic life of the machine is 5 years. Kamp Company normally is subject to 6% interest rate in business transactions. Assume leas period is 50 months. Provide journal entry on the date the lease contract was signed. Round amounts: 2.31=2;2.65=3 