Question
On October 1, 2004, Kay Breeze launched a computer service company, Success Systems that is organised as a sole proprietorship and provides consulting services, computer
On October 1, 2004, Kay Breeze launched a computer service company, Success Systems that is organised as a sole proprietorship and provides consulting services, computer system installation, and custom programme development. During the month of October, the following transactions took place:
Oct | 1 | Kay Breeze invested Cash $20,000 bank $55,000, a $20,000 computer system, and $8,000 of office equipment in the business. |
| 3 | Purchased $1,420 of computer supplies on credit from Cain Office Products. |
| 6 | Billed Easy Leasing $4,800 for services performed in installing a new Web server. |
| 8 | Paid $1,420 cheque for the computer supplies purchased from Cain Office Products on October 3. |
| 10 | Hired Sherry Adams as a part-time assistant for $125 per day, as needed. |
| 12 | Billed Easy Leasing another $1,400 for services performed. |
| 15 | Received $4,800 by cheque from Easy Leasing on its account. |
| 17 | Paid $805 cash to repair computer equipment damaged when moving it. |
|
| Withdrew $500 cash from the bank for office use. |
| 20 | Paid $1,940 cash for an advertisement in the local newspaper. |
| 22 | Received $1,400 cash from Easy Leasing on its account. |
| 28 | Billed Clark Company $5,208 for services performed. |
| 31 | Paid $875 cash for Sherry Adams wages for seven days of work. |
| 31 | Breeze withdrew $3,600 bank for personal use. |
Post the following transactions in T account format
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