Flora Accounting Services Completed These Transactions in February

question 99

Essay

Flora Accounting Services completed these transactions in February:
a. Purchased office supplies on account, $300.
b. Completed work for a client on credit, $500.
c. Paid cash for the office supplies purchased in (a).
d. Completed work for a client and received $800 cash.
e. Received $500 cash for the work described in (b).
f. Received $1,000 from a client for accounting services to be performed in March.
Prepare journal entries to record the above transactions. Explanations are not necessary.

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Definitions:

Sufficient Electronic Record

An electronic document that contains all the necessary information to be legally recognized and enforceable.

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A business entity that sells new or used automobiles in a retail setting, typically operating under a dealership contract with an automaker or sales subsidiary.

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Failures to meet the legal obligations or conditions of a loan, contract, or agreement, often resulting in penalties or legal action.

Biological Determinism

The belief that human behavior and characteristics are solely determined by genetics and biological factors, neglecting the impact of environment.