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Prepare journal entries for the following transactions that occurred during May. Omit exp

Prepare journal entries for the following transactions that occurred during May. Omit exp

 Prepare journal entries for the following transactions that occurred during May. Omit explanations.

May 2 Purchased supplies on account, $600.

10 Paid May salaries, $500.

15 Paid for supplies purchased on May 2.

21 Received telephone bill, to be paid later, $50.

99) Journalize the following transactions that occurred during September. Omit explanations.

Sep. 5S. Richman invested $4,000 cash and $100 of equipment into his new business.

10Paid three months' rent in advance, $1,500.

23Purchased equipment on account, $2,000.

24Billed client for services rendered, $1,000.

100) Discuss the concept of cross-referencing. Include in your discussion the benefits provided by cross-referencing.

Tripti 06-Dec-2019

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