1. Kacy Spade, owner, invested $14,000 cash in the company in exchange for common stock.
2. The company purchased office supplies for $406 cash.
3. The company purchased $7,742 of office equipment on credit.
4. The company received $1,652 cash as fees for services provided to a customer.
5. The company paid $7,742 cash to settle the payable for the office equipment purchased in transactionc.
6. The company billed a customer $2,968 as fees for services provided.
7. The company paid $525 cash for the monthly rent.
8. The company collected $1,247 cash as partial payment for the account receivable created in transactionf.
9. The company paid $900 cash in dividends to the owner (sole shareholder).

Required:

1.Prepare general journal entries to record the transactions above for Spade Company by using the following accounts: Cash; Accounts Receivable; Office Supplies; Office Equipment; Accounts Payable; Common Stock; Dividends; Fees Earned; and Rent Expense. Use the letters beside each transaction to identify entries.

2.Post the abovejournal entries to T-accounts, which serve as the general ledger for this assignment.