Part 2

The following are Amena Consulting June 2007 transactions:

June 1 Amena Ali, owner, invested $13,325 cash into the business

June 2 Purchased office supplies for $475 cash

June 5 Purchased $6,235 of office equipment on credit

June 7 Received $2000 cash as fees for services provided to a customer

June 10 Paid $6,235 cash to settle the payable for the office equipment purchased on June 5

June 12 Billed a customer $3,300 as fees for services provided

June 14 Paid $775 cash for monthly rent

June 20 Collected $2,300 cash toward the account receivable created above

June 30 Amena Ali withdrew $800 cash for personal use

1. Prepare the necessary journal entries with narration to record the transaction for June.

2.

Open T-accounts using the following account/account numbers

Cash 101

Accounts Receivable 102

Office Supplies 103

Office Equipment 104

Account Payable 131

Amena Ali, Capital 141

Amena Ali, Withdrawals 151

Fees earned 161

Rent expense 171

3. Post the journal entries to their respective T accounts according to the list provided in requirement 2 and balance each account