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Concord Repair Shop had the following transactions during the first month of business as a proprietorship. Journalize the transactions. Aug. 2 Invested $12,320 cash and
Concord Repair Shop had the following transactions during the first month of business as a proprietorship. Journalize the transactions.
Aug. 2 | Invested $12,320 cash and $2,710 of equipment in the business. | |
7 | Purchased supplies on account for $480. (Debit asset account.) | |
12 | Performed services for clients, for which $1,193 was collected in cash and $722 was billed to the clients. | |
15 | Paid August rent $580. | |
19 | Counted supplies and determined that only $296 of the supplies purchased on August 7 are still on hand |
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