Frank Petronick decided to start an accounting practice after graduation from college The following is a list of events that occurred concerning Franks practice 1 After shopping around, Frank found an office to lease and signed a lease agreement The lease calls for a payment of $ 1,060 rent per month 2 Frank borrowed $ 2,815 from his grandmother so that he could buy some office furniture for his new office 3 Frank deposits the $ 2,815 plus $ 1,280 of his own cash in a new bank account at BMO under the name Petronick Accounting Services 4 Paid the landlord the first months rent 5 Purchased office furniture for $ 2,370 on account 6 Moved into the office and obtained the first assignment from a client to prepare year end financial statements for $ 1,900 7 Performed the work on the assignment and sent an invoice to the customer for $ 1,900 8 Paid half of the amount of the purchase of office furniture 9 Purchased office supplies on account for $ 385 10 Paid for Internet services $ 43 cash 11 Collected half of the earlier billing to the customer 12 Frank withdrew $ 441 cash from the business for personal expenses Journalize the above transactions (Credit account titles are automatically indented when amount is entered Do not indent manually If no entry is required, select No Entry for the account titles and enter 0 for the amounts ) No Account Titles and Explanation Debit Credit 1 Accounts ReceivableAccounts PayableCashF Petronick, CapitalF Petronick, DrawingsInternet ExpenseNo EntryFurnitureSuppliesRent ExpenseService Revenue Accounts ReceivableAccounts PayableCashF Petronick, CapitalF Petronick, DrawingsInternet ExpenseNo EntryFurnitureSuppliesRent ExpenseService Revenue 2 Accounts ReceivableAccounts PayableCashF Petronick, CapitalF Petronick, DrawingsInternet ExpenseNo EntryFurnitureSuppliesRent ExpenseService Revenue Accounts ReceivableAccounts PayableCashF Petronick, CapitalF Petronick, DrawingsInternet ExpenseNo EntryFurnitureSuppliesRent ExpenseService Revenue 3 Accounts ReceivableAccounts PayableCashF Petronick, CapitalF Petronick, DrawingsInternet ExpenseNo EntryFurnitureSuppliesRent ExpenseService Revenue Accounts ReceivableAccounts PayableCashF Petronick, CapitalF Petronick, DrawingsInternet ExpenseNo EntryFurnitureSuppliesRent ExpenseService Revenue 4 Accounts ReceivableAccounts PayableCashF Petronick, CapitalF Petronick, DrawingsInternet ExpenseNo EntryFurnitureSuppliesRent ExpenseService Revenue Accounts ReceivableAccounts PayableCashF Petronick, CapitalF Petronick, DrawingsInternet ExpenseNo EntryFurnitureSuppliesRent ExpenseService Revenue 5 Accounts ReceivableAccounts PayableCashF Petronick, CapitalF Petronick, DrawingsInternet ExpenseNo EntryFurnitureSuppliesRent ExpenseService Revenue Accounts ReceivableAccounts PayableCashF Petronick, CapitalF Petronick, DrawingsInternet ExpenseNo EntryFurnitureSuppliesRent ExpenseService Revenue 6 Accounts ReceivableAccounts PayableCashF Petronick, CapitalF Petronick, DrawingsInternet ExpenseNo EntryFurnitureSuppliesRent ExpenseService Revenue Accounts ReceivableAccounts PayableCashF Petronick, CapitalF Petronick, DrawingsInternet ExpenseNo EntryFurnitureSuppliesRent ExpenseService Revenue 7 Accounts ReceivableAccounts PayableCashF Petronick, CapitalF Petronick, DrawingsInternet ExpenseNo EntryFurnitureSuppliesRent ExpenseService Revenue Accounts ReceivableAccounts PayableCashF Petronick, CapitalF Petronick, DrawingsInternet ExpenseNo EntryFurnitureSuppliesRent ExpenseService Revenue 8 Accounts ReceivableAccounts PayableCashF Petronick, CapitalF Petronick, DrawingsInternet ExpenseNo EntryFurnitureSuppliesRent ExpenseService Revenue Accounts ReceivableAccounts PayableCashF Petronick, CapitalF Petronick, DrawingsInternet ExpenseNo EntryFurnitureSuppliesRent ExpenseService Revenue 9 Accounts ReceivableAccounts PayableCashF Petronick, CapitalF Petronick, DrawingsInternet ExpenseNo EntryFurnitureSuppliesRent ExpenseService Revenue Accounts ReceivableAccounts PayableCashF Petronick, CapitalF Petronick, DrawingsInternet ExpenseNo EntryFurnitureSuppliesRent ExpenseService Revenue 10 Accounts ReceivableAccounts PayableCashF Petronick, CapitalF Petronick, DrawingsInternet ExpenseNo EntryFurnitureSuppliesRent ExpenseService Revenue Accounts ReceivableAccounts PayableCashF Petronick, CapitalF Petronick, DrawingsInternet ExpenseNo EntryFurnitureSuppliesRent ExpenseService Revenue 11 Accounts ReceivableAccounts PayableCashF Petronick, CapitalF Petronick, DrawingsInternet ExpenseNo EntryFurnitureSuppliesRent ExpenseService Revenue Accounts ReceivableAccounts PayableCashF Petronick, CapitalF Petronick, DrawingsInternet ExpenseNo EntryFurnitureSuppliesRent ExpenseService Revenue 12 Accounts ReceivableAccounts PayableCashF Petronick, CapitalF Petronick, DrawingsInternet ExpenseNo EntryFurnitureSuppliesRent ExpenseService Revenue Accounts ReceivableAccounts PayableCashF Petronick, CapitalF Petronick, DrawingsInternet ExpenseNo EntryFurnitureSuppliesRent ExpenseService Revenue

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Frank Petronick decided to start an accounting practice after graduation from college. The following is a list of events that occurred concerning Franks practice. 1.

Frank Petronick decided to start an accounting practice after graduation from college. The following is a list of events that occurred concerning Franks practice.

1.		After shopping around, Frank found an office to lease and signed a lease agreement. The lease calls for a payment of $ 1,060 rent per month.
2.		Frank borrowed $ 2,815 from his grandmother so that he could buy some office furniture for his new office.
3.		Frank deposits the $ 2,815 plus $ 1,280 of his own cash in a new bank account at BMO under the name Petronick Accounting Services.
4.		Paid the landlord the first months rent.
5.		Purchased office furniture for $ 2,370 on account.
6.		Moved into the office and obtained the first assignment from a client to prepare year end financial statements for $ 1,900.
7.		Performed the work on the assignment and sent an invoice to the customer for $ 1,900.
8.		Paid half of the amount of the purchase of office furniture.
9.		Purchased office supplies on account for $ 385.
10.		Paid for Internet services $ 43 cash.
11.		Collected half of the earlier billing to the customer.
12.		Frank withdrew $ 441 cash from the business for personal expenses.

Journalize the above transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

No.	Account Titles and Explanation	Debit	Credit
1.	Accounts ReceivableAccounts PayableCashF. Petronick, CapitalF. Petronick, DrawingsInternet ExpenseNo EntryFurnitureSuppliesRent ExpenseService Revenue
	Accounts ReceivableAccounts PayableCashF. Petronick, CapitalF. Petronick, DrawingsInternet ExpenseNo EntryFurnitureSuppliesRent ExpenseService Revenue
2.	Accounts ReceivableAccounts PayableCashF. Petronick, CapitalF. Petronick, DrawingsInternet ExpenseNo EntryFurnitureSuppliesRent ExpenseService Revenue
	Accounts ReceivableAccounts PayableCashF. Petronick, CapitalF. Petronick, DrawingsInternet ExpenseNo EntryFurnitureSuppliesRent ExpenseService Revenue
3.	Accounts ReceivableAccounts PayableCashF. Petronick, CapitalF. Petronick, DrawingsInternet ExpenseNo EntryFurnitureSuppliesRent ExpenseService Revenue
	Accounts ReceivableAccounts PayableCashF. Petronick, CapitalF. Petronick, DrawingsInternet ExpenseNo EntryFurnitureSuppliesRent ExpenseService Revenue
4.	Accounts ReceivableAccounts PayableCashF. Petronick, CapitalF. Petronick, DrawingsInternet ExpenseNo EntryFurnitureSuppliesRent ExpenseService Revenue
	Accounts ReceivableAccounts PayableCashF. Petronick, CapitalF. Petronick, DrawingsInternet ExpenseNo EntryFurnitureSuppliesRent ExpenseService Revenue
5.	Accounts ReceivableAccounts PayableCashF. Petronick, CapitalF. Petronick, DrawingsInternet ExpenseNo EntryFurnitureSuppliesRent ExpenseService Revenue
	Accounts ReceivableAccounts PayableCashF. Petronick, CapitalF. Petronick, DrawingsInternet ExpenseNo EntryFurnitureSuppliesRent ExpenseService Revenue
6.	Accounts ReceivableAccounts PayableCashF. Petronick, CapitalF. Petronick, DrawingsInternet ExpenseNo EntryFurnitureSuppliesRent ExpenseService Revenue
	Accounts ReceivableAccounts PayableCashF. Petronick, CapitalF. Petronick, DrawingsInternet ExpenseNo EntryFurnitureSuppliesRent ExpenseService Revenue
7.	Accounts ReceivableAccounts PayableCashF. Petronick, CapitalF. Petronick, DrawingsInternet ExpenseNo EntryFurnitureSuppliesRent ExpenseService Revenue
	Accounts ReceivableAccounts PayableCashF. Petronick, CapitalF. Petronick, DrawingsInternet ExpenseNo EntryFurnitureSuppliesRent ExpenseService Revenue
8.	Accounts ReceivableAccounts PayableCashF. Petronick, CapitalF. Petronick, DrawingsInternet ExpenseNo EntryFurnitureSuppliesRent ExpenseService Revenue
	Accounts ReceivableAccounts PayableCashF. Petronick, CapitalF. Petronick, DrawingsInternet ExpenseNo EntryFurnitureSuppliesRent ExpenseService Revenue
9.	Accounts ReceivableAccounts PayableCashF. Petronick, CapitalF. Petronick, DrawingsInternet ExpenseNo EntryFurnitureSuppliesRent ExpenseService Revenue
	Accounts ReceivableAccounts PayableCashF. Petronick, CapitalF. Petronick, DrawingsInternet ExpenseNo EntryFurnitureSuppliesRent ExpenseService Revenue
10.	Accounts ReceivableAccounts PayableCashF. Petronick, CapitalF. Petronick, DrawingsInternet ExpenseNo EntryFurnitureSuppliesRent ExpenseService Revenue
	Accounts ReceivableAccounts PayableCashF. Petronick, CapitalF. Petronick, DrawingsInternet ExpenseNo EntryFurnitureSuppliesRent ExpenseService Revenue
11.	Accounts ReceivableAccounts PayableCashF. Petronick, CapitalF. Petronick, DrawingsInternet ExpenseNo EntryFurnitureSuppliesRent ExpenseService Revenue
	Accounts ReceivableAccounts PayableCashF. Petronick, CapitalF. Petronick, DrawingsInternet ExpenseNo EntryFurnitureSuppliesRent ExpenseService Revenue
12.	Accounts ReceivableAccounts PayableCashF. Petronick, CapitalF. Petronick, DrawingsInternet ExpenseNo EntryFurnitureSuppliesRent ExpenseService Revenue
	Accounts ReceivableAccounts PayableCashF. Petronick, CapitalF. Petronick, DrawingsInternet ExpenseNo EntryFurnitureSuppliesRent ExpenseService Revenue