Misha Zetkova opened a health food consulting business on October 1, 2015. During the month, the following transactions occurred:
a. Misha transferred $5,000 from a personal bank account to an account to be used for the business.
b. Paid advertising expense, $1,800.
c. A client called to book Misha’s time in November; Misha gave a quote of $1,000.
d. Misha completed a review of a client’s dietary intake for one week and charged the client $500. The client has not yet paid.
e. Paid cash for miscellaneous items, $50.
f. Paid telephone bill for the month, $180.
g. Withdrew cash for personal use, $2,000.
Instructions
Record the above transactions directly in the following T accounts, without journalizing: Cash; Accounts Receivable; Misha Zetkova, Capital; Misha Zetkova, Withdrawals; Advertising Expense; Miscellaneous Expense; Fees Earned; Telephone Expense. To the left of each amount entered in the accounts, place the appropriate letter to identify the transaction.