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Question Two: (5 Marks) Journalize the following transaction for Abbey Company during the month of Sep 2017. 1/9 Start up the business transferring $80,000 from

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Question Two: (5 Marks) Journalize the following transaction for Abbey Company during the month of Sep 2017. 1/9 Start up the business transferring $80,000 from his account into business account for business use. Transfer the ownership of the following asset to the business; Truck $5000, office furniture $9800 and Equipment $2300. 1/9 Paid $2500 for insurance premium until Sep 1s 2018 2/9 Purchased supplies for $21,050, paid $2000 by cash and the remaining on account. 3/9 Paid rent for factory building for the month of July $1,500 9/9 Received $17800 as fees for a job to be complete at the end of October 2017 17/9 Paid creditors on account $8350 20/9 Completed a services for customer for fees $15,250 received $4000 by cash, remaining on account. 21/9 Purchased Equipment for $17,500, paid $7,000 by cash and give note payable for the remaining 22/9 Received cash of $8,500 from customers for jobs completed in Sep 20

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