Question
Below is the chart of accounts for Myer company. Charts of Accounts 11. Cash 12. Accounts Receivable 14. Computer Supplies 18. Equipment 21. Accounts payable
Below is the chart of accounts for Myer company.
Charts of Accounts
11. Cash
12. Accounts Receivable
14. Computer Supplies
18. Equipment
21. Accounts payable
23. Notes payable
31. O. Meyer Capital
32. O. Meyer Drawing
41. Fees earned
51. Wages Expense
52. Rent Expense
Journalize the following July transactions for Myer Company
July 2. Received $40,000 from Oscar Meyer, owner
July 5 Purchased $8500 in computer supplies on account
July 10 Paid $5000 for July rent
July 13 Purchased equipment for $41000, paying $25,000 in cash and a note payable for the remainder
July 16 Recorded $3500 of fees earned on account
July 19 Received $11000 in cash for fees earned
July 22 Paid $2000 to creditors on account
July 25 Paid wages of $1300
July 31 Received $900 from customers on account
July 31 Recorded owner's withdrawal on $1000
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