Ch02 In-Class Ex - P2-7.Recording TransactionsRandi had a...

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Unformatted text preview: P2-7.Recording TransactionsRandi had a hard time finding a summer job when she went home from college, so she decided to go into business for herself mowing lawns. She had the following business activities during the month of June.June 1Used $300 of her own money and borrowed $450 from her father to start the business2Rented a used pickup truck from an uncle for $85 per month. Paid for the first month's use.3Rented a lawnmower ($75 per month), an edger ($50 per month), and a wheelbarrow ($10 per month) at an equipment rental store. Paid the first month's rental fees in full.16During the first two weeks, performed $650 of lawn-mowing services. Customers paid in cash. Paid out $67 for gas, oil, and other supplies.18Paid $70 for a newspaper advertisement that had appeared earlier in the month.30During the last half of the moth, performed $507 of lawn-mowing services and collected the cash.30Paid out $105 for gas, oil, and other supplies....
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This note was uploaded on 11/30/2010 for the course ACC 310F taught by Professor Verduzco during the Spring '07 term at University of Texas at Austin.

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Ch02 In-Class Ex - P2-7.Recording TransactionsRandi had a...

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