The Trial Balance and Transaction Descriptions Below Are for Coachman

question 7

Essay

The trial balance and transaction descriptions below are for Coachman Company:
Summary transactions for February:
What is Coachman's total equity at the end of February?

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Definitions:

Purchases Discount

A reduction in the price paid for goods, given for early payment according to the terms of purchase.

Voucher Register

A record-keeping system that logs all vouchers issued and paid by a business, detailing payments to suppliers and services.

Date Of Payment

The date the dividend is paid.

Purchases Credit

A transaction type where goods or services are bought on account, with payment to be made at a future date, usually within an agreed period.