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The Following Is a List of Accounts and Their Balances

question 158

Essay

The following is a list of accounts and their balances for Myra's Company for the month ended May 31, 2020. Prepare a trial balance in good form.
Cash$1,380Myra, Withdrawals$980Accounts Payable500Accounts Receivable1,030Office Equipment2,260Service Fees1,835Myra, Capital3,965Rent Expense650\begin{array}{l l l l}\begin{array} { r r r r } \text {Cash} &\$1,380 &\text {Myra, Withdrawals} &\$980 \\\text {Accounts Payable} &500 &\text {Accounts Receivable} &1,030\\\text {Office Equipment} &2,260 &\text {Service Fees} &1,835\\\text {Myra, Capital} &3,965 &\text {Rent Expense} &650\\\end{array}\end{array}

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Definitions:

Civilized Behavior

Conduct considered socially appropriate and reflective of societal norms and values, often used historically to justify colonial and cultural dominance.

Rule of Law

The principle that all individuals, institutions, and entities are accountable to laws that are publicly promulgated, equally enforced, and independently adjudicated.

NAFTA

The North American Free Trade Agreement, a treaty between the United States, Canada, and Mexico that created a trilateral trade bloc in North America.

Labor

The body of persons engaged in physical or intellectual work for wages, or the work itself; also, one of the critical factors of production in economics.

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