7. Given the following transactions in the month of July for Kootenay Outdoor Adventures, prepare journal entries; and, a trial balance and balance sheet as of July 31, 2023. a) Owner, Bill Thompson invested $35,000 cash and equipment with a value of $67,500 into the business. b) Purchased supplies on account, $250. c) Rented office space paying one month's rent, $950. d) Performed guide service on account, $4,500. e) Purchased a truck by paying $4,000 cash and signing a promissory note for the balance of $29,800. f) Performed guiding service and immediately collected $2,900 cash. g) Owner, Bill Thompson withdrew $900 for personal use.

7. Given the following transactions in the month of July for Kootenay Outdoor Adventures, prepare journal entries; and, a trial balance and balance sheet as of July 31, 2023. a) Owner, Bill Thompson invested $35,000 cash and equipment with a value of $67,500 into the business. b) Purchased supplies on account, $250. c) Rented office space paying one month's rent, $950. d) Performed guide service on account, $4,500. e) Purchased a truck by paying $4,000 cash and signing a promissory note for the balance of $29,800. f) Performed guiding service and immediately collected $2,900 cash. g) Owner, Bill Thompson withdrew $900 for personal use.

Name: 7. Given the following transactions in the month of July for Kootenay
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Description: 7. Given the following transactions in the month of July for Kootenay OutdoorAdventures, prepare journal entries; and, a trial balance and balance sheet as of July 31,2023.a) Owner, Bill Thompson invested $35,000 cash and equipment with a value of $

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter3: Analyzing And Recording Transactions

Section: Chapter Questions

Problem 17PA: Prepare journal entries to record the following transactions for the month of November: A. on first...

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