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11 J UIL. LUIS die provided for the following accounts: Cash; Accounts Receivable; Office Supplies; Computer Equipment; Office Furniture; Accounts Payable; Charles Chadwick, Capital; Charles

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11 J UIL. LUIS die provided for the following accounts: Cash; Accounts Receivable; Office Supplies; Computer Equipment; Office Furniture; Accounts Payable; Charles Chadwick, Capital; Charles Chadwick, Drawing Professional Fees; Rent Expense; and Utilities Expense. The following transactions occurred during the first month of business. Record these transactions in T accounts. After all transactions are recorded, foot and balance the accounts if necessary. (a) Invested cash in the business, $30,000. (b) Bought office supplies for cash, $300. (c) Bought office furniture for cash, $5,000. (d) Purchased computer and printer on account, $8,000. (e) Received cash from clients for services, $3,000. (f) Paid cash on account for computer and printer purchased in transaction (d), $4,000 (0) Earned professional fees on account during the month, $9,000. (h) Paid cash for office rent for January, $1,500. () Pald utility bills for the month, $800. 6) Received cash from clients billed in transaction (o). $6,000. (k) Withdrew cash for personal use, $3,000. Assets Liabilities Cash (e) X (a) 30,000 (b) X 300 (C) X1 5,000 X (k) x Accounts Payable Accounts Receivable Owner's Equity Cr. + Charles Chadwick, Capital Drawing Expenses Revenues Professional Fees C. Chadwick, Drawing Rent Expense 9,000 Utilities Expense

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