Transcribed Image Text: c. Pass the transactions to balance Accounting Equation for the month of January 2021: January 1: Star Co

Excerpt
11: Purchased equipment by issuing 30 days notes payable for S10000, January 12: Sold raw material of $5500 equal to the original cost on account. January 15: Received cash of $4500 in settlement of account receivables. January 20: Paid utility expenses for $5000 in cash.

Transcribed Image Text: c. Pass the transactions to balance Accounting Equation for the month of January 2021:
January 1: Star Co started a business with $70000 cash in hand and $50000 cash at bank.
January 3: Purchased furniture $15000 and building $25000 and paid cash.
January 4: Purchased office supplies and raw material for $5000 and $10000 respectively on
account.
January 5: Star co. issued additional capital of $25000 by depositing in bank account.
January 11: Purchased equipment by issuing 30 days notes payable for S10000,
January 12: Sold raw material of $5500 equal to the original cost on account.
January 15: Received cash of $4500 in settlement of account receivables.
January 20: Paid utility expenses for $5000 in cash.

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