Aug. 2 Invested $12,940 cash and $2,370 of equipment in the business. 7 Purchased supplies on account for $510. (Debit asset account.) 12 Performed services for clients, for which $1,379 was collected in cash and $696 was billed to the clients. 15 Paid August rent $599. 19 Counted supplies and determined that only $248 of the supplies purchased on August 7 are still on hand.

Pharoan Kepall Shop nad the following transactions during the First month of business as a prophetorship. Journalize the transactions. (17 no entry is required, select "No entry"Por une account titles and enter o for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Aug. 2 Invested $12,940 cash and $2,370 of equipment in the business. 7 Purchased supplies on account for $510. (Debit asset account.) 12 Performed services for clients, for which $1,379 was collected in cash and $696 was billed to the clients. 15 Paid August rent $599. 19 Counted supplies and determined that only $248 of the supplies purchased on August 7 are still on hand. Date Account Titles and Explanation Debit Credit Aug. 2 Aug. 12