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Matilda Crone opened a public relations firm called Dance Fever on August 1 2014 The following amounts summarize her business on August 31 2014 During September 2014 the business completed the

Matilda Crone opened a public relations firm called Dance Fever on August 1, 2014. The following amounts summarize her business on August 31, 2014:  During September 2014, the business completed the following transactions: a. Matilda Crone contributed $ 13,000 cash in exchange for common stock. b. Performed service for a client and received cash of $ 900. c. Paid off the beginning balance of accounts payable. d. Purchased office supplies from OfficeMax on account, $ 600. e. Collected cash from a customer on account, $ 2,300. f. Cash dividends of $ 1,600 were paid to stockholders. g. Consulted for a new band and billed the client for services rendered, $ 5,500. h. Recorded the following business expenses for the month: Paid office rent: $ 1,200. Paid advertising: $ 600. Analyze the effects of the transactions on the accounting equation of Dance Fever using the format presentedabove.

May 22 2020 View more View Less

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