Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Debit and credit 1 Feb1, 2020 Andrea Lee opened a new business by depositing $19,000 cash into the business 2 Feb2, 2020 Business paid six

image text in transcribed
Debit and credit
1 Feb1, 2020 Andrea Lee opened a new business by depositing $19,000 cash into the business 2 Feb2, 2020 Business paid six month rent for $9000 in cash 3 Feb5, 2020 Business bought $3000 printer for the office on account. 4 Feb7, 2020 Andrea took $1000 out of the business bank account for personal use 5 Feb8, 2020 Business made an $5000 service agreement with client for the services to be provided in Mar. 6 Feb10, 2020 Business purchased $2100 office stationeries, paid in cash 7 Feb12, 2020 Business received $5,700 cash from the customer for the services provided. 8 Feb25, 2020 Business billed the client $7500 for the service completed for the 2nd week of the February. 9 Feb26, 2020 Business paid the amount owing for Transaction #3 10 Feb28, 2020 Business received customer money in full for the Transaction#8 11 Feb28, 2020 Business got the Feb, 2020 telephone bill for $350, paid in cash

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Speed Of Risk Lessons Learned On The Audit Trail

Authors: Richard F. Chambers, CIA, QIAL, CGAP, CCSA, CRMA

2nd Edition

163454059X, 978-1634540599

More Books

Students also viewed these Accounting questions