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Geo IncHad the Following Account Balances on January 1,Year 2

Question 210

Essay

Geo Inc.had the following account balances on January 1,Year 2:
 Accounts Payable $689 Accounts Receivable 1,000 Cash 15,000 Common Stock 10,000 Equipment 500 Notes Payable 3,000 Retained Earnings 2,911 Salaries and Wages Expense 0 Supplies 100\begin{array}{lr}\text { Accounts Payable } & \$ 689 \\\text { Accounts Receivable } & 1,000 \\\text { Cash } & 15,000 \\\text { Common Stock } & 10,000 \\\text { Equipment } & 500 \\\text { Notes Payable } & 3,000 \\\text { Retained Earnings } & 2,911 \\\text { Salaries and Wages Expense } & 0 \\\text { Supplies } & 100\end{array} During January,Year 2,Geo entered into the following transactions:
A.Paid $689 on account for utilities that were used during December Year 1.
B.Purchased $423 of supplies for cash.
C.Signed a rental agreement for office space and paid $3,500 in advance for six months of rent beginning February 1,Year 2.
D.Purchased $15,000 of new equipment,signing a promissory note.
E.Provided $26,000 of services.$17,000 was received in cash and $9,000 was provided on credit.
F.Paid workers $8,300 for work done in January.
Required:
Prepare journal entries for each of the following January activities,and post results to the relevant T-accounts.Compute the ending balance of each T-account.Beginning balances have been entered.(If no entry is required for a transaction/event,select "No Journal Entry Required" in the first account field. )

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