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Record only the current transaction information in T accounts arranged according

Record only the current transaction information in T accounts arranged according to the Accounting Equation.


(1) Linda Smith, a sophornore at State University, started the Speedy Ironing Service with a $125 cash investment on Sept. 1, 1591.


(2) On Sept. 1, paid $60 for 4 months of ads in the school newspaper.


(3) On Sept. 1, purchased Ironing Supplies for $10 cash.


(4) On Sept. 1, purchased $60 of Ironing Equipment paying $30 down.


(5) Linda made an additional investment of $25.


(6) Paid one-half the amount owed on the Ironing Equipment.

Apr 16 2018 View more View Less

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