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IT BBS company is a locally owned Information Technology consulting services firm specializing in serving mid-tier businesses. The following transactions pertain to IT BBS during
IT BBS company is a locally owned Information Technology consulting services firm specializing in serving mid-tier businesses. The following transactions pertain to IT BBS during october 2019. 1- 1st October the invested capital was $50.000 cash. 2- 2nd october the company purchase $7,000 of supplies on account. 3- 5th October IT BBS provides services to Innovation Co. for $50,000 on account. 4- 6th October the company provides services to Fast Track Company for $50,000 cash. 5- 7th October the company paid $17,000 cash for employees' salaries. 6- 10th Innovation Co. paid $20,000 cash related to transaction 3. Question 1; a. Journalize the transactions b. Post to the ledger Account for the following accounts: cash, service revenue, account receivable, and salaries expense
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