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Open a T accounts for business B to record the ablove balance.

2016 May 8   Purchased a computer costing $5000 for business use, paying a deposit of $2000. The balance is to paid to Digital Ltd in 60 days.
 
        May 24  Repaid $1000 principal and $150 interest to Sim Finance by cheque
 
        May 30  Cash sales $3000,$2000 of which was used to pay wages.The balance was banked in.

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MICHAEL S. | SCIENCE AND MATH HELPSCIENCE AND MATH HELP
4.9 4.9 (107 lesson ratings) (107)
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5/8
 
Equipment - $5000 (debit)
Cash - $2000 (credit)
Accounts Payable - $3000 (credit)
 
5/24
 
Accounts Payable - $1000 (debit)
Interest Expense - $150 (debit)
Cash - $1,150 (credit)
 
5/30
 
Cash - $3000 (debit)
Service Revenue - $2000 (credit)
 
Salary Expense - $2000 (debit)
Cash - $2000 (credit)
 
 
(Alternative for 5/30
 
Cash - $1000 (debit)
Salary Expense - $2000 (debit)
Service Revenue - $3000 (credit)