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Business, 26.02.2020 04:31 123hhh

Hart, Attorney at Law, experienced the following transactions in Year 1, the first year of operations: Accepted $18,800 on April 1, Year 1, as a retainer for services to be performed evenly over the next 12 months. Performed legal services for cash of $62,000. Purchased $1,100 of office supplies on account. Paid $990 of the amount due on accounts payable. Paid a cash dividend to the stockholders of $5,900. Paid cash for operating expenses of $18,300. Determined that at the end of the accounting period $135 of office supplies remained on hand. On December 31, Year 1, recognized the revenue that had been earned for services performed in accordance with Transaction 1.

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Hart, Attorney at Law, experienced the following transactions in Year 1, the first year of operation...
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