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Unformatted text preview: g. Paid the following cash expenses: salaries, $3,000; rent, $1,500; and interest, $400. h. Received $3,100 on account. i. Received a $200 utility bill that will be paid next week. j. Paid cash dividends of $1,800. Required: 1.) Prepare journal entries for each transaction. Key journal entries by the transaction letter. 2.) Prepare the trial balance of My Motors, Inc. at March 31, 20XX. 3.) Prepare financial statements for My Motors, Inc. for the period ending March 31, 20XX. (Balance sheet and Income statement) Note: Posting the transactions using the T-account format may be helpful, but is not required to be submitted....
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