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9. VanitaKhanna opened an office services business on September 1 with the following assets and liabilities: Cash $2200; Equipment $4300; Bank Loan $3500. (a) Prepare
9. VanitaKhanna opened an office services business on September 1 with the following assets and liabilities: Cash $2200; Equipment $4300; Bank Loan $3500. (a) Prepare an opening entry in a general journal. (b) The following events occurred during September. Journalize the items that must be entered in the books of the company. Revenue should be recorded in the Fees from Clients account. Sep. 1 1 Paid the first month's rent on the office, $1500, Cheque 1. Completed keying a report for a client, J. Jamison, and mailed the bill for $250, Invoice 1. 2 3 Received Invoice 6789 from the Express for advertising, $175. Purchased office supplies from Beattie's Stationery, $115 on credit. Invoice 2694. 4 5 Received $85 from a client for work completed today,Sales Slip 1. Mailed a cheque for $825 drawn on the company bank account to pay Ms. Khanna's apartment rent, Cheque 2. 6 Signed a contract with Continental Inc. to provide overload keying services. It is anticipated this will result in $1000 worth of business each month. 8 9 J. Jamison paid the bill issued September 1 in full. Returned a $50 box of envelopes purchased September 3 to Beattie's Stationery; incorrect size. Beattie's gave a credit for the amount. (This means the firm now owes Beattie's $50 less as a result of the transaction.) Paid the Express bill of September 2, Cheque 3. 11 Paid Beattie's in full, Cheque 4. 10
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