Question
Emily started a new business by investing her own money.She then had the following selected transaction..Journalize them in a 2 column journal using the appropriate
Emily started a new business by investing her own money.She then had the following selected transaction..Journalize them in a 2 column journal using the appropriate item number to identify them.Journal explanations are to be omitted:
1.Deposited $25,000 into the business account.
2.Purchased supplies for cash.She paid $1,077.
3.Paid rent on her office space of $3,000 for the month.
4.Bought office equipment for $25,000, paying $5,000 in cash and the rest on a 3 year note.
5.Paid $350 for advertising in the local newspaper.
6.Received cash payment of $2,000 from a customer.
7.Received a bill for telephone and internet service of $1,050.
8.Performed services on account for customers totaling $12,000.Sent out invoices.
9.Paid $1,050 in cash for telephone and internet service.
10.Withdrew $400 in cash to pay her personal expenses.
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