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7:29 AM 44 May Fedor started a delivery service, Fed Deliveries, on July 1, 2018. The following transaction occurred during the month of July.
7:29 AM 44 May Fedor started a delivery service, Fed Deliveries, on July 1, 2018. The following transaction occurred during the month of July. July 1 She contributed P100,000 cash. 2 Purchased used van for deliveries for P120,000 by paying P20,000 cash and signed a two-year note payable for the remaining balance. 3 Paid P15,000 for office rent for the month 5 Delivery services amounted to P44,000, half on account. 9 Cash of 2,000 withdrawn by May. 12 Purchased supplies for P1,500 on account. 15 Received cash of P12,500 for services provided on June 5. 17 Purchased gasoline for 7,500 on account. 20 Received P15,000 from customers of which P5,000 was for past accounts. 23 Made a cash payment of P25,000 on the note payable. 26 Paid P2,500 for utilities. 29 Paid for the gasoline purchased on account on June 17. 30 Paid P30,000 for employee salaries. Instructions: a. Show the effects of the above transactions on the accounting equation using the following format: Date Cash Accounts Supplies Delivery Notes Accounts Fedor, Revenues Account Receivables Van Payable Payable Capital (expenses) Title Drawing
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