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2 August, 16:30

The May transactions of Step Aside Corporation were as follows.

May 4 paid $700 due for supplies previously purchased on account.

7 Performed advisory services on account for $6,800.

8 Purchased supplies for $850 on account.

9 Purchased equipment for $1,000 in cash.

17 Paid employees $530 in cash.

22 Received bill for equipment repairs of $900.

29 Paid $1,200 for 12 months of insurance policy.

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  1. 2 August, 20:05
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    4 paid $700 due for supplies previously purchased on account.

    Cash account affected (Asset)

    Accounts Payable affected (Liability)

    7 Performed advisory services on account for $6,800.

    Accounts Receivable affected (Asset)

    Service Revenue affected (Equity)

    8 Purchased supplies for $850 on account.

    Supples affected (Asset)

    Account Payable affect (Liability)

    9 Purchased equipment for $1,000 in cash.

    Equipment (Asset)

    Cash (Asset)

    17 Paid employees $530 in cash.

    Payroll (Equity)

    Cash (Asset)

    22 Received bill for equipment repairs of $900.

    Repair expense (Equity)

    Account Payable (Liability)

    29 Paid $1,200 for 12 months of insurance policy.

    Coverage begins June 1 Prepaid rent (Asset)

    Cash (Asset)
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