ACY Company was incorporated in January 2021 and is engaged in providing professional accounting services to clients. Below were the business transactions that happened in February.

Required:

Prepare journal entries to record the following transactions. The explanation / description / narrative of the transactions are not required.

Feb 1	Purchased equipment $10,000 by cash.
12	Received $100,000 cash by issuing common stocks.
14	Purchased office supplies on account for $10,000.
16	Paid rent $2,000 by cash.
18	Billed client A for professional accounting services rendered $15,000.
20	Collected $7,500 on account from client A.
22	Paid $5,000 on account to suppliers by cash.
24	Paid salary $10,000 by cash.
26	Performed services for client B and collected cash of $2,000.
28	Depreciation expense incurred in February was $1,000.