Question
Journalize the following business transactions in general journal form. Identify each transaction by number. You may omit explanations of the transactions. 1. Irma Lepage invests
Journalize the following business transactions in general journal form. Identify each transaction by number. You may omit explanations of the transactions. 1. Irma Lepage invests $45,000 cash to start a law firm, Legal Lepage, operating as a proprietorship. 2. Paid $2,700 cash for the first three months' rent. 3. Purchased office equipment for $25,000, paying $8,500 in cash and signed a 30-day, 5% note payable for $16,500. 4. Paid $660 cash for the purchase of office supplies. 5. Received a bill for $700 for advertising for the current month. 6. Billed $10,000 to clients for legal services. 7. Paid $700 cash on account for the advertising in transaction 5. 8. Paid $4,500 cash for office salaries. 9. Irma withdrew $6,200 cash. 10. Received a cheque for $5,000 from a client in payment on account for services billed in transaction 6. a
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