A. Using the chart of accounts which follows, journalize the following transactions:

June

1 Marty Max began his law practice by placing $45,000 cash into a

business checking account, and by also investing office furniture which he already owned, $20,000.

2 Paid $4,500 for three months rent.

2 Purchased office equipment, $1,700, paying $500 cash, remainder on account.

3 Purchased $800 of office supplies on account.

5 Paid $3,600 premium on a two year insurance policy.

6 Billed a client for services performed, $3,750.

8 Paid for the supplies purchased on June 3.

10 Hired Betty Bright as a secretary, at $12.00 per hour.

12 Received $4,250 from a client for work delivered this date.

15 Received full payment from the client billed on June 6.

17 Paid $900 to repair damaged equipment.

20 Paid $1,200 to place advertisement announcing opening of the practice.

23 Received $1,875 from a client for work to be performed the following month.

24 Paid Betty Bright $960 for two weeks of work.

30 Withdrew $3,000 for personal use.

Chart of Accounts

Cash MM, Capital

Accounts Receivable MM, Withdrawal

Office Supplies Professional Fees

Prepaid Insurance Wages Expense

Prepaid Rent Insurance Expense

Office Furniture Advertising Expense

Office Equipment Repairs Expense

Accounts Payable Rent Expense

Unearned Service Revenue

Place your journal entries by date in the spaces provided: