General Ledger Accounts

Set up T accounts for each of the general ledger accounts needed for the following transactions.

1. Invested cash in the business, $5,700.
2. Paid office rent, $500.
3. Purchased office supplies on account, $300.
4. Received cash for services rendered (fees), $400.
5. Paid cash on account, $50.
6. Rendered services on account, $300.
7. Received cash for an amount owed by a customer, $100.

Post debits and credits to the accounts. Foot the accounts and enter the balances.

Cash Bal Accounts Receivable Bal Office Supplies Accounts Payable Bal Owner's Capital Fees Bal Prove that total debits equal total credits. Total Debits: Total Credits: Cash Accounts receivable Office supplies Rent expense Accounts payable Owner's capital Fees