Described below are several transactions which might be recorded by a music supply company.Several accounts from the company's chart of accounts are also listed below.Using these account titles,record each transaction in proper journal entry format.A written explanation for each journal entry is not required.
A) Bills are mailed for musical instruments sold to customers,
B) Customers pay for music al instruments in advance,
C) Administrative employees are paid their monthly salaries,
D) An invoice is received for of new musical instruments purchased for sale to customers; payment is due in 30 days
E) Payments are received from customers for amounts billed in a previous transaction,
F) Full payment is made for the musical instruments invoice received in a previous transaction
Correct Answer:
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