Preparing Journal Entries
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Preparing journal entries
Prepare journal entries for each of the following selected transactions:
a. On January 13, Chico Chavez opens a landscaping business called Showcase Yards by investing
$70,000 cash along with equipment having a $30,000 value.
b. On January 21, Showcase Yards purchases office supplies on credit for $280.
c. On January 29, Showcase Yards receives $7,800 cash for performing landscaping services.
d. On January 30, Showcase Yards receives $1,000 cash in advance of providing landscaping services to a customer.
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The expert prepares journal entries.
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a. On January 13, Chico Chavez opens a landscaping business called Showcase Yards by investing
$70,000 cash along with equipment having a $30,000 value.
This would increase the assets and since the amount is invested by the owner, it would increase ...
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