Jay Smith's Word Processing Began Business and Completed These Transactionsduring

question 73

Essay

Jay Smith's Word Processing began business and completed these transactionsduring the month of November:(a)Purchased office supplies on account, $75.(b)Completed work for a publisher on credit, $500.(c)Paid for the office supplies purchased in Transaction a.(d)Completed work for a resume writing service and received $85 cashReceived $500 for the work described in Transaction b.Prepare journal entries to record the above transactions. Include a briefdescription for each entry.

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Definitions:

Legislative Powers

The authority to make laws and alter or repeal them, usually vested in a governmental legislature or parliament.

Judicial Powers

The authority given to courts and judges to interpret and apply the law, adjudicate legal disputes, and enforce justice.

Executive Powers

The authority granted to the executive branch of a government, including the enactment and enforcement of laws.

Federal Court System

The system of courts organized under the U.S. Constitution and laws of the federal government comprising district courts, courts of appeal, and the Supreme Court.