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godisgoodallthoubxi7
godisgoodallthoubxi7
08.02.2021 • 
Business

M.E. Carter launched Carter Company, a professional services firm on March 1. The firm will prepare financial statements at each month-end. In March (its first month), Carter executed the following transactions. Enter the transactions, a through g, into the financial statement effects template below. A) Carter (owner) invested in the company, $100,000 cash and $20,000 in property and equipment. The company issued common stock for Carter.B) The company paid $3,200 cash for rent of office furnishing and facilities for MarchC) The company performed services for clients and immediately received $4,000 cash earned.D) The company performed services and sent a bill for $24,000 with payment due within 60 daysE) The company compensated an office employee with $4,800 cash as salary for MarchF) The company received $10,000 cash as partial payment on the amount owed from clients in transaction d).G) The company paid $935 cash in dividends to Carter (owner).

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