Question
Question Open the following three-column ledger accounts for Yarrow Strategic Consulting at May 1, 2014: Cash, #1100; Accounts Receivable, # 1300; Office Supplies, #1500; Office
Question Open the following three-column ledger accounts for Yarrow Strategic Consulting at May 1, 2014: Cash, #1100; Accounts Receivable, # 1300; Office Supplies, #1500; Office Furniture, #1800; Accounts Payable, # 2100; Florence Yarrow, Capital , # 3100; Florence Yarrow, Withdrawals, # 3200; Consulting Revenue, #4100; Rent Expense, # 5500; Salary Expense, # 5600. Journalize the following May 2014 transactions on page 9 of the journal, and then post to the ledger accounts. Use the dates to identify the transactions. May 2 Florence Yarrow opened a strategic consulting firm by investing $39,200 cash and office furniture valued at $16,200. 2 Paid cash for May's rent of $2,500. 2 Purchased office supplies on account, $1,800. 15 Paid employee salary, $4,000 cash. 17 Paid $1,200 of the account payable from May 2. 19 Performed consulting service on account, $69,000. 30 Withdrew $8,000 cash for personal use.
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