Jensen Services, a single proprietorship owned by Paul Jensen, had the following transactions early in June:

(a) On June 1, collected cash of $2,400 from accounts receivable.

(b) On June 2, Paul Jensen made an additional investment in the business by depos¬

iting $2,000 cash in the company bank account.

(c) On June 3, made a payment of $1,200 on accounts payable.

(d) On June 4, bought office equipment on credit at a cost of $2,600.

(e) On June 6, bought additional office equipment for cash of $375.

Instructions a Prepare an analysis of each of the above transactions. The form of analysis to be used is as follows, using transaction

(a) as an example.

a (1) The asset Cash was increased. Increases in assets are recorded by debits.

Debit Cash, $2,400.

(2) The asset Accounts Receivable was decreased. Decreases in assets are re¬

corded by credits. Credit Accounts Receivable, $2,400.

b Prepare journal entries, including explanations, for the above transactions.