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Jason Adams opened an accounting officeon March 1st.During the first month of business, the following transactions occurred. March 1st: Jason Adams invested $5,000 in his
Jason Adams opened an accounting officeon March 1st.During the first month of business, the following transactions occurred.
- March 1st: Jason Adams invested $5,000 in his new business.
- March 1st: Paid $750 for office rent for the month of March.
- March 3rd: Purchased office equipment for $500 cash.
- March 8th: Borrowed $5,000 cash from the bank as a note payable.
- March 10: Performed $500 of accounting services on account.
- March 13th: Performed $300 of accounting services, being paid cash.
- March 20th: Received payment in cash from theMarch 10thtransaction.
- March 25th: Purchased $200 office supplies on account.
- March 31st: Paid the following expenses: utilities $150, advertising expenses of $200.
- March 31st: Jason withdrew $500 for personal use.
In this template, record each transaction in the accounting equation using the following account titles: Cash, Accounts Receivable, Office Supplies, Office Equipment, Accounts Payable, Notes Payable, Owner's Capital, Owner's Withdrawals, Service Revenue, Expenses.
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