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Karen Crusher is a licensed CPA. During the first month of operations of her business (a sole proprietorship), the following events and transactions occurred. April

image text in transcribed Karen Crusher is a licensed CPA. During the first month of operations of her business (a sole proprietorship), the following events and transactions occurred. April Invested $27,150 cash and equipment valued at $15,390 in the business. 5 2 Hired an administrative assistant at a salary of $269 per week payable monthly. 3 Purchased supplies on account $754. (Debit an asset account.) 7 Paid office rent of $684 for the month. 11 Completed a tax assignment and billed client $1,164 for services rendered. (Use Service Revenue account.) 12 Received $2,885 advance on a management consulting engagement. 17 Received cash of $1,988 for services completed for Ferengi Co. 21 Paid insurance expense $95. 30 Paid administrative assistant $1,076 for the month. 30 A count of supplies indicated that $125 of supplies had been used. 30 Purchased a new computer for $7,249 with personal funds. (The computer will be used exclusively for business purposes.) Journalize the transactions in the general journal. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter O for the amounts. Record journal entries in the order presented in the problem. List all debit entries before credit entries.)

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