: Chapter 4. Problem 1PSB Bookmark Show all steps: OFF Recording transactions in the general Journal. The transactions listed below took place at Prasad Building Cleaning Service during September 20X1. This firm cleans commercial buildings for a fee. . INSTRUCTIONS Analyze and record each transaction in the general journal. Choose the account names from the chart of accounts shown below. Be sure to number the journal page 1 and to write the year at the top of the Date column. Include a description for each entry. ASSETS OWNER'S EQUITY 101 Cash 301 Victor Prasad, Capital 111 Accounts Receivable 302 Victor Prasad. Drawing 121 Cleaning Supplies REVENUE 131 Office Supplies 401 Fees Income 134 Prepaid Rent EXPENSES 141 Equipment 511 Equipment Repair Expense LIABILITIES 514 Salaries Expense 202 Accounts Payable 521 Telephone Expense 524 Utilities Expense DATE TRANSACTIONS Sept 1 Victor Prasad invested $75,000 in cash to start the business. 1 Issued Check 1000 for $4,000 to pay the September rent 2 Purchased used equipment for $22,000 from Pope Equipment Supplies, Invoice 2101: Issued Check 1001 for $12,000 with the balance duo in 30 days 3 Issued Chock 1002 for $1,800 for cleaning supplies. 4 Issued Check 1003 for $2,050 for office supplies 6 Performed services for $6,000 in cash. 8 Performed services for $7.500 on credit. 9 9 Pald $850 for monthly telephone bill; issued Check 1004 10 Issued Check 1005 for $975 for equipment repas 12 Received $3.250 from credit clients 14 Issued Checks 1006-1007 for $1,500 to pay salaries 18 Performed services for $8,200 in cash. 20 Issued Check 1008 for $2.275 for the monthly electric bil. 26 Performed services for $8.950 in cash. 30 Issued Checks 1009-1010 for $1.500 to pay salaries. 30 Issued Check 1011 for $9,500 to Victor Prasad to pay for personal expenses. Analyze: How many transactions affected expense accounts