King Service Co. experienced the following transactions for 2012, its first year
ID: 2377620 • Letter: K
Question
King Service Co. experienced the following transactions for 2012, its first year of operations:
Organize the information in accounts under an accounting equation. (Amounts to be deducted should be entered with a minus sign. Leave no cells blank - be certain to select "0" and "NA" wherever required. Omit the "$" sign in your response.)
1. Provided $66,000 of services on account. 2. Collected $42,000 cash from accounts receivable. 3. Paid $26,000 of salaries expense for the year. 4. King adjusted the accounts using the following information from an accounts receivable aging schedule:Explanation / Answer
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