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answer Selected transactions for M. Swifty, an interior decorator, in her first month of business, are as follows. Jan. 2 Invested $13,200 cash in business.
answer Selected transactions for M. Swifty, an interior decorator, in her first month of business, are as follows. Jan. 2 Invested $13,200 cash in business. 3 Purchased used car for $3,960 cash for use in business. 9 Purchased supplies on account for $660. 11 Billed customers $3,168 for services performed. 16 Paid $462 cash for advertising. 20 Received $924 cash from customers billed on January 11. 23 Paid creditor $396 cash on balance owed. 28 Withdrew $1,320 cash for personal use by owner. Date Account Titles and Explanation Debit Credit Jan. 2 Cash 13,200 Owner's Capital 13,200 Jan. 3 $ Equipment 3,960 Cash 3,960 Jan. 94 Supplies 660 Accounts Payable 660 Jan. 114 Accounts Receivable 3,168 Service Revenue 3,168 Jan. 16 Advertising Expense 462 Cash 462 Jan. 20 Cash 924 Accounts Receivable 924 Jan. 23 Accounts Payable 396 Cash 396 Jan. 28 4 Owner's Drawings Cash 1,320 Selected transactions for M. Swifty, an interior decorator, in her first month of business, are as follows. Jan. 2 Invested $13,200 cash in business. 3 Purchased used car for $3,960 cash for use in business. 9 Purchased supplies on account for $660. 11 Billed customers $3,168 for services performed. 16 Paid $462 cash for advertising. 20 Received $924 cash from customers billed on January 11. 23 Paid creditor $396 cash on balance owed. 28 Withdrew $1,320 cash for personal use by owner. Date Account Titles and Explanation Debit Credit Jan. 2 Cash 13,200 Owner's Capital 13,200 Jan. 3 $ Equipment 3,960 Cash 3,960 Jan. 94 Supplies 660 Accounts Payable 660 Jan. 114 Accounts Receivable 3,168 Service Revenue 3,168 Jan. 16 Advertising Expense 462 Cash 462 Jan. 20 Cash 924 Accounts Receivable 924 Jan. 23 Accounts Payable 396 Cash 396 Jan. 28 4 Owner's Drawings Cash 1,320
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