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Business, 23.09.2019 18:30 cxttiemsp021

Groro co. bills a client $62,000 for services provided and agrees to accept the following three items in full payment: (1) $10,000 cash, (2) equipment worth $80,000, and (3) to assume responsibility for a $28,000 note payable related to the equipment. (a) analyze the transaction using the accounting equation. (b) prepare general journal entries for the above transactions. (c) post the entry using t-accounts to represent ledger accounts.

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Groro co. bills a client $62,000 for services provided and agrees to accept the following three item...

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