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Problem 2-2A Julia Dumars is a licensed CPA. During the first month of operations of her business, Julia Dumars, Inc., the following events and transactions
Problem 2-2A Julia Dumars is a licensed CPA. During the first month of operations of her business, Julia Dumars, Inc., the following events and transactions occurred May 1 Stockholders invested $20,100 cash in exchange for common stock. 2 Hired a secretary-receptionist at a salary of $2,300 per month. 3 Purchased $2,300 of supplies on account from Vincent Supply Company 7 Paid office rent of $750 cash for the month. 11 Completed a tax assignment and billed client $2,900 for services performed 12 Received $2,500 advance on a management consulting engagement. 17 Received cash of $1,800 for services performed for Orville Co. 31 Paid secretary-receptionist $2,300 salary for the month. 31 Paid 50% of balance due Vincent Supply Company. Julia uses the following chart of accounts: No. 101 Cash, No. 112 Accounts Receivable, No. 126 Supplies, No. 201 Accounts Payable, No. 209 Unearned Service Revenue, No. 311 Common Stock, No. 400 Service Revenue, No. 726 Salaries and Wages Expense, and No. 729 Rent Expense. Journalize the transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" forthe account titles and enter O for the amounts.)
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