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Mary Sunny began business as Sunny Law Firm on November 1. Record the following November transactions by crating journal entries and recording them on T-
Mary Sunny began business as Sunny Law Firm on November 1. Record the following November transactions by crating journal entries and recording them on T- accounts. Then, prepare a trial balance, as of November 30. a) Mary invested $15,000 cash and a law library valued at $6,000. b) Purchased $7,500 of office equipment from John Bronx on credit. c) Completed legal work for a client and received $1,500 cash in full payment. d) Paid John Bronx. $3,500 cash in partial settlement of the amount owed. e) Completed $4,000 of legal work for a client on credit. f) Mary withdrew $2,000 cash for personal use. g) Received $2,500 cash as partial payment for the legal work completed for the client in (e). h) Paid $2,500 cash for the legal secretary's salary
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