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1. Huey paid her assistant of $1.000 in cash for work done in the first two weeks of December g. Haley dry-cleaned clothes for customers
1. Huey paid her assistant of $1.000 in cash for work done in the first two weeks of December g. Haley dry-cleaned clothes for customers on account in the amount of $8.000 h. Haley collected $6.300 of her accounts receivable balance. i. Haley paid tax of $750 in cash. Required: Prepare the journal entry for each transaction. Prepare T-accounts (numbers already under the accounts are the prior balance in that account). Opening T-Account Balances Epiron 14 : Cash 5,000 Accounts Receivable 6,500 Prepaid Rent o Prepaid Insurance 0 Supplies 0 Accounts Payable 1,200 Salary Payable 1,000 Note Payable 4,000 Capital Stock 3,000 Retained Earnings 2,300 Sales Revenue 0 Supplies Expense Salary Expense 0 Rent Expense 0 Insurance Expense 0 Tax Expense 0 1
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