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Grace Prince invested $68,000 in cash to start the firm. Issued check for $5,600 to pay the rent for current month. Purchased an automobile that
Grace Prince invested $68,000 in cash to start the firm. Issued check for $5,600 to pay the rent for current month. Purchased an automobile that will be used to visit clients; issued check for $34,100 in full payment. Purchased supplies for $1,120; paid immediately by check. Purchased office equipment for $20,900 on credit from Ovation, Incorporated; received invoice, payable in 30 days. Performed services for $2,900 in cash. Returned damaged supplies for a cash refund of $130. Issued check for $18,800 to Ovation, Incorporated, as payment on account. Paid $200 for monthly telephone bill by check. Withdrew $660 in cash for personal expenses. Journalize the above transactions for Prince's Auto Repair
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