2The chart of accounts used by Notwist Copy Company is listed below. You are to journalized the following transaction

by using these accounts.

CHART OF ACCOUNTS

101 Cash 209 Unearned Service Revenue

112 Accounts Receivable 301 Owner's Capital

125 Supplies 306 Owner's Drawings

157 Equipment 400 Service Revenue

200 Notes Payable 610 Advertising Expense

201 Accounts Payable 729 Rent Expense

1. M. Acher invests $70,000 cash to start the business.

2. Purchased three pieces of equipment for $160,000, paying $50,000 cash and signing a 5year, 10% note for the

remainder.

3. Purchased $5,000 supplies on credit.

4. Cash revenue amounted to $7,000.

5. Paid $500 cash for radio advertising.

6. Paid $800 on account for supplies purchased in transaction 3.

7. Owner withdrew $2,100 from the business for personal expenses.

8. Paid $1,200 cash for rent for the current month.

9. Received $2,000 cash advance from a customer for future copying.

10. Billed a customer for $575 for photocopy work done. (10 points)