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Q1) Record transactions in general journal which is given below.  Use only following account titles:  Cash; Accounts Receivable; Supplies; Equipment; Accounts Payable; YOUR NAME, Capital; YOUR NAME, Drawing; Service Revenue; Rent Expense; Supplies Expense; Utilities Expense.


Invested $20,000 in cash and $5,000 of equipment in the business


Purchased equipment on account, $1,200


Purchased supplies on account, $500


Purchased supplies with cash, $1,000


Received cash for services provided to clients, $2,500


Paid rent, $850


Billed clients for services performed, $850


Paid for equipment purchased on 3/5/07


Received payment for services performed on 3/20/07


Withdrew cash for personal use, $3,000

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  • Reference No.:- M916787

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