The accountant of the Burt Company makes use of expense and revenue accounts.

The accountant of the Burt Company makes use of expense and revenue accounts. All sales are for cash.

a. Stockholders invest $100,000 on January 1, 20xx.

b. Rent of $4,800 is paid. This is rent for a 12-month period beginning

February 1.

c. Merchandise that cost $25,000 is purchased on account.

d. Supplies are purchased for $6,000 cash on February 1.

e. The Burt Company starts operations on February 1. Sales for the first week are $5,000.

Record the foregoing transactions using T-accounts.

 

 

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