Phillips Engineering engaged in the following September transactions (Click the icon to view the transactions ) Recured Transactions Sep 1 4 8 12 24 27 Paid monthly utilities expense of $145 Borrowed $9,900 cash, signing a note payable Performed service on account for a customer, $2,600 Purchased equipment on account, $1,900 Purchased supplies for $620 and paid cash Paid the liability created on September 12 UN Required 1 Prepare journal entries for the transactions Include an explanation for each transaction 2 The following T accounts for Phillips Engineering have been opened for you with the following September 1 balances Cash 101, debit balance $2,600 Accounts Receivable 103, S0 Supplies 105, $0Equipment 107 $0 Land 110 debit balance $34 000Accounts Payable 201, S0 Note Payable 205, $0 R Phillips, Capital 301, credit balance 536,600 Service Revenue 401, $0 Utilities Expense 501 So Post the transactions to the T accounts, and compute the account balances 3 Add the balances to prove that total debits equal total credits

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Phillips Engineering engaged in the following September transactions  (Click the icon to view the transactions ) Recured Transactions Sep 1 4 8 12 24 27 Paid monthly utilities expense of $145  Borrowed $9,900 cash, signing a note payable  Performed service on account for a customer, $2,600  Purchased equipment on account, $1,900  Purchased supplies for $620 and paid cash  Paid the liability created on September 12 UN   Required 1  Prepare journal entries for the transactions  Include an explanation for each transaction  2  The following T accounts for Phillips Engineering have been opened for you with the following September 1 balances  Cash  101, debit balance $2,600 Accounts Receivable  103, S0  Supplies  105, $0Equipment  107  $0  Land  110  debit balance $34 000Accounts Payable  201, S0  Note Payable  205, $0  R  Phillips, Capital  301, credit balance 536,600  Service Revenue  401, $0  Utilities Expense  501  So  Post the transactions to the T accounts, and compute the account balances 3  Add the balances to prove that total debits equal total credits

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Phillips Engineering engaged in the following September transactions. (Click the icon to view the transactions.) Recured Transactions Sep 1 4 8 12 24 27 Paid

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