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Journalize the given business transactions in general journal form. Employ the journal given on the answer sheet. Recognize each transaction by number. You might omit descriptions of the transactions.

1) The owner, Athena Lu, invests $35,000 in cash in starting a real estate office operating as an individual proprietorship.

2) Purchased $400 of office supplies on credit.

3) Purchased office equipment for $8,000, paying $2,000 in cash and signed a 30-day, $6,000, note payable.

4) Real estate commissions billed to clients amount to $4,000.

5) Paid $700 in cash for the present month's rent.

6) Paid $200 cash on account for office supplies purchased in transaction 2.

7) Received a bill for $600 for advertising for the present month.

8) Paid $2,200 cash for office salaries.

9) Lu withdrew $1,200 from business for living expenses.

10) Received a check for $3,000 from a client in payment on account for commissions billed in transaction 4.

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M916419

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