Answered step by step
Verified Expert Solution
Question
1 Approved Answer
A d. C. a. Rafael Masey transferred cash from a personal bank account to an account to be used for the business, $17,500. b.
A d. C. a. Rafael Masey transferred cash from a personal bank account to an account to be used for the business, $17,500. b. Purchased supplies on account, $2,300. c. Earned fees, receiving cash, $13,300. d. Paid rent on office and equipment for the month, $3,000. e. Paid creditor on account, $1,150. f. Withdrew cash for personal use, $1,800. g. Paid automobile expenses (including rental charge) for month, $1,500, and miscellaneous expenses, $400. h. Paid office salaries, $2,800. i. Determined that the cost of supplies used was $1,050. Required: 1. Journalize entries for transactions (a) through (i), using the following account titles: Cash; Supplies; Accounts Payable; Rafael Masey, Capital; Rafael Masey, Drawing; Fees Earned; Rent Expense; Office Salaries Expense; Automobile Expense; Supplies Expense; Miscellaneous Expense. For a compound transaction, if an amount box does not require an entry, leave it blank. a. b.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started