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Purchased new equipment for $2,450 by issuing a check for $1,500 as a down payment with the balance due in 30 days. Returned damaged supplies
Purchased new equipment for $2,450 by issuing a check for $1,500 as a down payment with the balance due in 30 days. Returned damaged supplies and received a $75 cash refund. Purchased supplies for $250 cash. Provided services for $7,050 on credit. Issued a check for $800 to pay a creditor on account. Issued checks for $2,900 to pay the employees their monthly salaries. Issued a check for $200 to pay the monthly telephone bill. Determine the accounts and amounts to be debited and credited for the above transactions for William Clock Repair.
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