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3. The chart of accounts used by Ramos Company is listed below. CHART OF ACCOUNTS Cash Accounts Receivable Supplies Equipment Notes Payable Rent Expense

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3. The chart of accounts used by Ramos Company is listed below. CHART OF ACCOUNTS Cash Accounts Receivable Supplies Equipment Notes Payable Rent Expense - (1 pt. ea. 8 pts) Unearned Service Revenue Owner's Capital Owner's Drawings Service Revenue Accounts Payable 1. The owner invests $70,000 cash to start the business. 2. Paid $1,800 cash for rent for the current month. 3. Purchased equipment for $190,000, paying $75,000 cash and signing a 5-year, 10% note payable for the remainder. 4. Purchased $1,000 of supplies on account. 5. Received $1,100 cash advance from a customer for future copying. 6. Paid $800 on account for supplies purchased in transaction 4. 7. The owner withdrew $1,400 from the business for personal expenses. 8. Billed a customer for $550 for photocopy work performed. Required: Prepare the journal entries for the 8 items above.

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