Question
Create Journal Entries for the transactions and post them to T Accounts. 1. 1/15 Monica deposited $10,000 into a business bank account for PBP (Portraits
Create Journal Entries for the transactions and post them to T Accounts.
1. 1/15 Monica deposited $10,000 into a business bank account for PBP (Portraits By Porter) to pursue her dream.
2. 1/15 PBP purchased a camera from Good Co. on account for $3000. The useful life is 5 years.
3. 1/24 PBP purchased a computer for $756. The useful life is 3 years.
4. 1/26 PBP purchased a photo printer for $1200. The useful life is 2 years.
5. 1/26 PBP purchased photo supplies for $500.
6. 1/31 PBP received a $300 deposit from Mr. Moy to provide photography services at his wedding on February 4
7. 2/6 PBP delivered photos to Mr. Moy and billed Mr. Moy for the final payment of $200.
8, 2/8 PBP paid $1000 to Good Co.
9. 2/14 PBP provided photo services to Sweet Hearts Anonymous at the Valentines Day dance and received $250.
10. 2/21 PBP was hired to take photos at a sports banquet to be held on March 15th. The price was $1000 plus travel expenses with a down payment of $250.
11. 2/22 PBP purchased photos supplies for $800 from Photo Chemical Company.
12. 2/23 PBP paid $1500 to Good Co.
13. 2/25 PBP received a phone bill for $86
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