Record the following transactions in the general journal. Use ONLY these account titles: Cash; Accounts Receivable; Supplies; Equipment; Accounts Payable; YOUR NAME, Capital; YOUR NAME, Drawing; Service Revenue; Rent Expense; Supplies Expense; Utilities Expense.
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3/1/07
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Invested $20,000 in cash and $5,000 of equipment in the business
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3/5/07
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Purchased equipment on account, $1,200
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3/7/07
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Purchased supplies on account, $500
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3/10/07
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Purchased supplies with cash, $1,000
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3/13/07
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Received cash for services provided to clients, $2,500
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3/15/07
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Paid rent, $850
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3/20/07
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Billed clients for services performed, $850
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3/25/07
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Paid for equipment purchased on 3/5/07
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3/28/07
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Received payment for services performed on 3/20/07
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3/31/07
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Withdrew cash for personal use, $3,000
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After recording the transactions listed above, post to the general ledger.