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complete transactions Journal Entries + Assets Accts. Receivable Liabilities Accts. Payable Owner's Equity Owner's Capital Cash Supplies Equipment 1. Initial investment in the business, $23,500

image text in transcribedcomplete transactions

Journal Entries + Assets Accts. Receivable Liabilities Accts. Payable Owner's Equity Owner's Capital Cash Supplies Equipment 1. Initial investment in the business, $23,500 2. Purchase equipment for cash, $8,500 3. Purcahse supplies on credit, $1,975 4. Receive cash for services provided, $1,200 5. Purchase advertising on credit, $250 6. Services provided for cash, $1,500 and credit, $2,000 7. Payment of expenses: store rent, $600, employees, $900 and utilties, $200 8. Payment of accounts payable, $250 9. Received payment of cash from accounts receivable, $600 10. Withdrawl of cash by owner, $2,000 Total Assets: Liabilities and Owners' Equity

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