Essay
Krenz Car Care, which is owned and operated by Karl Krenz, began business as a corporation in September of the current year. Karl, a master mechanic, had no experience with keeping a set of books. As a result, Karl entered all of September's transactions directly to the ledger accounts. When he tried to locate a particular entry he found it to be confusing and time consuming. He has hired you to improve his accounting procedures. The accounts in his General Ledger are as follows:
Prepare the general journal entries, in chronological order (a) through (e), from the T-account entries shown. Include a brief description of the probable nature of each transaction.
Correct Answer:

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Correct Answer:
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