Do the following exercises.

Exercise 1 On January 1, Cassie Harris set up a catering service. Listed below are the accounts that she would like to open in the general ledger.

Cash

Supplies

Equipment

Accounts Payable

Cassie HarrisCapital

Wages Expense

Rent Expense

truck

Utilities Expense

Cassie HarrisDrawing

Truck Expense

prepaid insurance

Fees Earned

Miscellaneous Expense

Insurance Expense

Payable Notes

Accounts Receivable

Instructions: List the accounts in the order they should appear in the general ledger and propose a two-digit account numbering scheme that is consistent with the rules of a proper chart of accounts.

Exercise 2 Instructions: Record the following selected transactions for April in the general ledger, identifying each entry by letter:

(a) Received $18,000 from Katie Long, owner.

(b) Purchased equipment for $27,000, paying $10,000 in cash and giving a note payable for the remainder.

(c) Paid $2,300 for rent for April.

(d) Purchased $1,500 of supplies on account.

(e) Recorded $9,800 of fees earned on account.

(f) Received $7,500 in cash for fees earned.

(g) Paid $1,200 to creditors on account.

(h) Paid wages of $3,425.

(i) Received $7,900 from customers on account.

(j) Recorded owner's withdrawal of $1,875.