Given Below Are the Daily Balances in the Accounts of Travel

question 57

Essay

Given below are the daily balances in the accounts of Travel Tips,Inc..Assuming only one transaction occurred each day,explain the nature of each transaction from June 1 to June 10.
$\begin{array}{l}\begin{array} {llll} &\text { Cash } &\text { Receivable } \\\text { Bal. } & \$6,000 & \$3,000 \\\text { June 1 } & 6,000 & 3,000 \\\text { June 2 } & 6,600 & 2,400 \\\text { June 3 } & 5,800 & 2,400 \\\text { June 4 } & 6,900 & 2,400 \\\text { June 5 } & 5,600 & 2,400 \\\text { June 6 } & 5,600 & 2,400 \\\text { June 7 } & 6,100 & 3,700 \\\text { June 8 } & 4,000 & 3,700 \\\text { June 9 } & 3,200 & 3,700 \\\text { Iune 10 } & 3,200 & 3,700\end{array}\begin{array} { llll } \text { Inventory } & \text { Equipment } \\\$ \$ 8,000 & \$ 7,000 \\8,700 & 7,000 \\8,700 & 7,000 \\8,700 & 7,000 \\8,700 & 7,000 \\8,700 & 9,600 \\8,200 & 9,600 \\8,200 & 7,800 \\8,200 & 7,800 \\9,000 & 7,800 \\9,000 & 9,500\end{array}\begin{array} { llll } \text { Accounts Payable } & \text { Owner Capital } \\\$ 4,000 & \$ 20,000 \\4,700 & 20,000 \\4,700 & 20,000 \\3,900 & 20,000 \\3,900 & 21,100 \\5,200 & 21,100 \\4,700 & 21,100 \\4,700 & 21,100 \\4,700 & 19,000 \\4,700 & 19,000 \\4,700 & 20,700\end{array}\end{array}$

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Definitions:

Legal Advice

Professional guidance provided by a qualified lawyer or legal practitioner regarding the law or legal actions that might be taken.

Public Transportation

A system of vehicles such as buses and trains provided by the government or private entities to enable communal travel within a specific area.

Organization

is a structured group of people with a particular purpose, such as a business, government department, or charity.

Music Festivals

Public events featuring live music performances by various artists, often focusing on a specific genre and offering other attractions like food and merchandise.