E2-12 Selected transactions for Dianne Burke Company during its fi rst month in business

are presented below.

Sept. 1 Invested $10,000 cash in the business.

5 Purchased equipment for $12,000 paying $4,000 in cash and the balance on

account.

25 Paid $3,000 cash on balance owed for equipment.

30 Withdrew $700 cash for personal use.

Instructions

(a) Journalize the transactions on page J1 of the journal. (Omit explanations.)

(b) Post the transactions using the standard account form