JPMorgan Chase & Co.
Enter the following transactions in the appropriate accounts:
20X9
May 1 Started business with $175,000 cash.
May 2 Paid $157,500 of the opening cash into the bank.
May 4 Bought goods on credit $16,500 from A. Murphy.
May 5 Bought a truck by cheque $70,000.
May 7 Bought goods for cash $8,200.
May 10 Sold goods on credit $17,000 to J. Davis.
May 12 Returned goods to A. Murphy $3,600.
May 19 Sold goods for cash $6,000.
May 22 Bought office equipment on credit from Staples $18,000.
May 24 R. Carter lent us $16,500 paying us the money by cheque.
May 29 We paid A. Murphy his account by cheque $15,500.
May 31 We paid Staples by cheque $18,000.