Create Journalizing and posting

Normal balances Exercise 2-4 For each of the following accounts, indicate the type of account and whether the normal balance of the account is a debit or a credit: a. Interest Revenue b. Accounts Payable c. Chapman Li, Capital d. Office Supplies e. Advertising Expense f. Service Revenue 8 Chapman Li, Withdrawals Analyzing and journalizing transactions Exercise 2-5 The following transactions occurred for London Engineering: Jul. 2 Received $10,000 contribution from Bill London in exchange for capital 4 Paid utilities expense of $400 5 Purchased equipment on account for $2,100 10 12 19 21 27 Performed services for a client on account, $2,000 Borrowed $7,000 cash, signing a note payable The owner, Bill London, withdrew $500 cash from the business Purchased office supplies for $800 and paid cash. Paid the liability from July 5. Required Journalize the transactions of London Engineering. Include an explanation with each journal entry. Use the following accounts: Cash; Accounts Receivable; Office Supplies; Equipment; Accounts Payable; Notes Payable; B. London, Capital; B. London, Withdrawals; Service Revenue; Utilities Expense. Analyzing and journalizing transactions Exercise 2-6 Analyze the following transactions of Pretty Party Planners in the manner shown for the December 1 transaction. Also, record each transaction in the journal. Dec. 1 Paid monthly utilities expense of $200. (Analysis: The expense, utilities expense, is increased; therefore, debit Utilities Expense. The asset, cash, is decreased; therefore, credit Cash.) 1 Utilities Expense Cash 200 4 Borrowed $20,000 cash, signing a note payable. Purchased equipment on account, $4,000. 12 Performed service on account for a customer, $6,000. 19 Sold land for $24,000 cash that had cost this same amount. 22 Purchased supplies for $1,200 and paid cash. 27 Paid the liability created on December 8. 200 8