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Record these transactions of the Global Filter Corp. company by recording the debit and credit entries directly in the T-accounts. Use the date for each
Record these transactions of the Global Filter Corp. company by recording the debit and credit entries directly in the T-accounts. Use the date for each transaction to identify the entries, placing the date in the left-hand cell and the amount in the right-hand cell on the appropriate side of the T-account. Then determine the balance of each account using the starting balances as shown, and write 'Balance' (or 'Bal') next to it, in the left-hand cell on the appropriate side. a. October 1 : Hector Mendez (a shareholder), received share capital in Global Filter Corp., after investing $60,000 cash into the business. b. October 2 : Furniture was rented by a customer for $1,000 cash. c. October 5 : Furniture was rented by a customer for $1,900 on credit. d. October 6 : Global Filter Corp. received a bill today for this month's water utilities; $450. It will be paid within 30 days. e. October 7 : Global Filter Corp. used $500 cash and $1,500 credit to purchase new equipment worth $2,000. f. October 9 : Global Filter Corp. received $1,600 towards payment for the services provided in transaction (c). g. October 12 : Global Filter Corp. purchased new equipment by paying $2,500 cash. h. October 13 : Global Filter Corp. paid $1,300 towards the bill from transaction (e). i. October 14 : Global Filter Corp. used credit to purchase $1,250 of equipment. j. October 16 : Global Filter Corp. paid this month's $300 electrical utilities bill received today
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