principles of accounting 12th edition

- record transactions in general journal

Or as shown in transaction a. Indicate no entry, if appropriate. LO 3 Recording Transactions in T Accounts E6A. Open the following T accounts: Cash; Repair Supplies; Repair Equipment; Accounts Payable; C. Ferdinand, Capital; Withdrawals; Repair Fees Earned; Salaries Expense; and Rent Expense. Record the following transactions for the month of June directly in the T accounts; use the letters to identify the transactions in your T accounts. Determine the balance in each account. a. Collin Ferdinand opened Ferdinand Repair Service by investing $8,600 in cash and $3,200 in repair equipment. b. Paid $800 for the current month's rent. c. Purchased repair supplies on credit, $1,000. d. Purchased additional repair equipment for cash, $600. e. Paid salary to an employee, $900. f. Paid $400 of amount purchased on credit in c. g. Accepted cash for repairs completed, $3,720. h. Withdrew $1,200 in cash. Analysis of Transactions 03