Instructions: Javier started a business that is dedicated to preparing land for construction. Below he will find the transactions made during the past month. Make the Jornal entries for each transaction and the T accounts for each account. Use the "Chart of Accounts" on the next page.

a) On the first day of the month, Javier opened a bank account in the name of the business; in which he deposited $ 25,000

b) $ 600 was paid in cash for the rent for the month.

c) A used truck was purchased for $ 8,000 in cash.

d) Tools were purchased for $ 3,000 on credit at Home-Depot.

e) Payment in cash of $ 150 for the use of electricity.

f) A cash advance of $ 1,500 was paid for a 2-year insurance for the truck.

g) Clients paid the business $ 3,000 in cash for services received.

h) Pays $ 700 in salary to an employee.

i) Javier prepares a plot of land and the client makes a cash payment of $ 2,500 and he is left to owe $ 1,000.

j) Pay $ 35 of the phone bill.

k) Javier buys $ 300 worth of office equipment. He pays $ 100 in cash and takes the remaining $ 200 on credit.

l) Of the money owed by the customer in letter i, the customer pays $ 500.

m) Javier pays an employee $ 850 in salary.

n) Javier pays $ 1,000 for the tools purchased in letter d.

o) The business generated $ 2,000 more in income; of which they received $ 1,400 in cash and $ 600 remains receivable.

p) The owner withdraws $ 500 from the business account for his personal use.

Chart of Accounts JAVIER INC. 100 CASH 110 ACC. RECEIVABLE 120 OFFICE SUPPLIES 130 PREPAID INSURANCE 140 TRUCK EQUIPMENT 150 TOOLS 200 ACCOUNTS PAYABLE 210 LOAN PAYABLE 300 OWNER'S EQUITY 400 SERVICE REVENUE 410 INTEREST REVENUE 500 SALARIES EXPENSE 510 INTEREST EXPENSE 520 RENT EXPENSE 530 UTILITIES EXPENSE 540 PHONE EXPENSE