Question
Agazzi Repair Shop had the following transactions during the first month of business as a proprietorship. Journalize the transactions. (If no entry is required, select
Agazzi Repair Shop had the following transactions during the first month of business as a proprietorship. Journalize the transactions. (If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. List all debit entries before credit entries.)\ Aug. 2 Invested
$12,000
cash and
$2,500
of equipment in the business.\ 7 Purchased supplies on account for
$500
. (Debit asset account.)\ 12 Performed services for clients, for which
$1,300
was collected in cash and
$670
was billed to the clients.\ 15 Paid August rent
$600
.\ 19 Counted supplies and determined that only
$270
of the supplies purchased on August 7 are still on hand.\ Date\ Account Titles and Explanation\ Debit\ Credit
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