JPMorgan Chase & Co.
Enter the following transactions in the appropriate accounts:
20X5
Aug 1 Started business with $130,000 cash.
Aug 2 Paid $117,000 of the opening cash into the bank.
Aug 4 Bought goods on credit $12,000 from D. Young.
Aug 5 Bought a van by cheque $52,000.
Aug 7 Bought goods for cash $6,000.
Aug 10 Sold goods on credit $12,500 to S. Lee.
Aug 12 Returned goods to D. Young $2,600.
Aug 19 Sold goods for cash $4,200.
Aug 22 Bought office supplies on credit from OfficeMax $13,500.
Aug 24 T. Allen lent us $12,000 paying us the money by cheque.
Aug 29 We paid D. Young his account by cheque $11,000.
Aug 31 We paid OfficeMax by cheque $13,500.