Question
Entries into T Accounts and Trial Balance Connie Young, an architect, opened an office on October 1, 20Y4. During the month, she completed the following
Entries into T Accounts and Trial Balance Connie Young, an architect, opened an office on October 1, 20Y4. During the month, she completed the following transactions connected with her professional practice: Transferred cash from a personal bank account to an account to be used for the business, $52,700. Paid October rent for office and workroom, $5,300. Purchased used automobile for $34,000, paying $7,900 cash and giving a note payable for the remainder. Purchased office and computer equipment on account, $10,500. Paid cash for supplies, $2,530. Paid cash for annual insurance policies, $3,500. Received cash from client for plans delivered, $13,200. Paid cash for miscellaneous expenses, $1,420. Paid cash to creditors on account, $3,060. Paid $420 on note payable. Received invoice for blueprint service, due in November, $1,700. Recorded fees earned on plans delivered, payment to be received in November, $9,100. Paid salary of assistants, $2,800. Paid gas, oil, and repairs on automobile for October, $690.
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