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Leonard Matson completed these transactions during December of the current year: 1. Dec. 1 Began a financial services practice by investing $15,000 cash and office
Leonard Matson completed these transactions during December of the current year: 1. Dec. 1 Began a financial services practice by investing $15,000 cash and office equipment having a $5,000 value. 2 Purchased $1,200 of office equipment on credit. Purchased $300 of office supplies 4 Completed work for a client and immediately received a Payment of $900 cash. 8 Completed work for Acme Loan Co. on credit, $1,700. Paid for the supplies purchased on credit on December 3. Paid for the annual $960 premium on an insurance policy 18 Received payment in full from Acme Loan Co. for the work Completed on December 8. Leonard withdrew $650 cash from the practice to pay on credit 10 14 27 personal expenses. Paid $175 cash for the December utility bills Received $2,000 from a client for financial services to be rendered next year Prepare general journal entries to record these transactions 30
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