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2 e. This problem extends Need-To-Know 1-6 from Chapter 1: Jasmine Worthy started a haircutting business called Expressions. The following events occurred during its first
2 e. This problem extends Need-To-Know 1-6 from Chapter 1: Jasmine Worthy started a haircutting business called Expressions. The following events occurred during its first month. a. Aug. 1 Worthy invested $3,000 cash and $15,000 of equipment in Expressions. b. 2 Expressions paid $600 cash for furniture for the shop. 3 Expressions paid $500 cash to rent space in a strip mall for August. d. 4 Expressions purchased $1,200 of equipment on credit for the shop (recorded as accounts payable). 15 Expressions opened for business on August 5. Cash received from haircutting services in the first week and a half of business (ended August 15) was $825. 16 Expressions provided $100 of haircutting services on account. g. 17 Expressions received a $100 check for services previously rendered on account. h. 18 Expressions paid $125 to an assistant for hours worked for the grand opening. 31 Cash received from services provided during the second half of August was $930. 1. 31 Expressions paid $400 cash toward the account payable entered into on August 4. k. 31 Worthy made a $900 cash withdrawal from the company for personal use. Required : Analyze each transaction and use the debit and credit rules (using duble entry) to prepare a journal entry f. i. for each Dr. ALA FATHI 10/23/2021
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