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Record the Following Transactions for the Stroud Music Store

Question 143

Essay

Record the following transactions for the Stroud Music Store:
(a)Provide music lessons to students for $12,000 on account.
(b)Purchase music supplies on account,$1,500.
(c)Pay rent for the current month,$2,000.
(d)Receive $10,000 cash from students in (a)above.

Correct Answer:

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(a)
Accounts Receivable 12,000...

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