On March 1, 2014, Nels Sigurdsen opened an automotive repair shop called Nels Car Repairs. Set up the following T-accounts that show balances at March 31, 2014: Cash $1,800; Accounts Receivable $4,800; Repair Supplies $1,400; Equipment $7,400; Accounts Payable $500; Nels Sigurdsen, Capital $2,350; Nels Sigurdsen, Withdrawals $500; Repair Revenue $14,000; Rent Expense $950. The activities below occurred during April. Identify the transactions and record them directly in the T-accounts. Use the dates beside the transactions to identify the entries. Also, determine the balance of each account.
Apr. 2 Nels Sigurdsen did some repairs on a car today and immediately collected $2,100.
5 Sigurdsen hired a tune-up specialist who will start next month and get paid $4,500 per month.
9 Repair supplies were purchased on credit; $1,500.
10 Paid $1,000 regarding the supplies purchased on April 9.
15 Bought a small piece of equipment, paying cash of $950.
18 Did work for a customer on account; $1,200.
19 Collected $2,800 regarding a customer's account.
25 Rented some specialized equipment from Ace Rentals; $820 on account.
29 Sigurdsen withdrew $1,500 cash for personal use.