Question
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
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
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