1. The upper Valley Tennis Club had the following transactions during May. Set up T-accounts and make entries for each of the transactions into the T- accounts. Be sure to label each entry.
a. Received checks for $500 of duties that had been billed in April.
b. Sold an old desk for $100 cash and a promise to pay $100 in one month. The balance sheet value of the desk was $200.
c. Bought a computer credit for $350.
d. Received $100 promised in transaction b.
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