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P 2–6 Accounting cycle LO2-2 @ through LO2-70 The general ledger of the Karlin Company, a consulting company, at January 1, 2The following is a summary of the transactions for the year: Page 101 a. Sales of services, $100,000, of which $30,000 was on

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2 Date General journal Debit Credit
a. Cash (100000-30000) 70000
Accounts receivable 30000
Service revenue 100000
(Services provided)
b. Cash 27300
Accounts receivable 27300
(Collect on accounts receivable)
c. Cash 10000
Common stock 10000
(Common stock issued)
d. Salaries payable 9000
Salaries expense (50000-9000) 41000
Cash 50000
(Salary paid)
e. Miscellaneous expense 24000
Cash 24000
(Paid miscellaneous expense)
f. Equipment 15000
Cash 15000
(Equipment purchased)
g. Dividends 2500
Cash 2500
(Dividend paid)
1 & 3. Cash Accounts receivable
Ref. Debit Ref. Credit Ref. Debit Ref. Credit
Bal. 30000 d. 50000 Bal. 15000 b. 27300
a. 70000 e. 24000 a. 30000
b. 27300 f. 15000 45000 27300
c. 10000 g. 2500 Bal. 17700
137300 91500
Bal. 45800
Equipment Accumulated depreciation
Ref. Debit Ref. Credit Ref. Debit Ref. Credit
Bal. 20000 Bal. 6000
f. 15000
35000 0
Bal. 35000
Salaries payable Common stock
Ref. Debit Ref. Credit Ref. Debit Ref. Credit
d. 9000 Aug 1. 9000 Bal. 40500
9000 9000 c. 10000
0 50500
Bal. 50500
Retained earnings Dividends
Ref. Debit Ref. Credit Ref. Debit Ref. Credit
Bal. 9500 g. 2500
Service revenue Miscellaneous expense
Ref. Debit Ref. Credit Ref. Debit Ref. Credit
a. 100000 e. 24000
Salaries expense
Ref. Debit Ref. Credit
d. 41000
4 Unadjusted trial balance
Debit Credit
Cash 45800
Accounts receivable 17700
Equipment 35000
Accumulated depreciation 6000
Common stock 50500
Retained earnings 9500
Dividends 2500
Service revenue 100000
Miscellaneous expense 24000
Salaries expense 41000
Totals 166000 166000

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