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Requirement: prepare journal entries and transfer the effects on the T-accounts. Pays for supplies $1,000 Purchases Fuel on account $700 Credit Sales $25,000 Collects from

Requirement: prepare journal entries and transfer the effects on the T-accounts.

Pays for supplies $1,000

Purchases Fuel on account $700

Credit Sales $25,000

Collects from Customers $6,000

Receives advances from customers $3,000

At the end of the month, the remaining supplies is 500

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Requirement: prepare journal entries and transfer the effects on the T-accounts. Pays for supplies $1,000 Purchases Fuel on account $700 Credit Sales $25,000 Collects from

Requirement: prepare journal entries and transfer the effects on the T-accounts. Pays for supplies $1,000 Purchases Fuel on account $700 Credit Sales $25,000 Collects from Customers $6,000 Receives advances from customers $3,000 At the end of the month, the remaining supplies is 500

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Requirement: prepare journal entries and transfer the effects on the T-accounts.

Pays for supplies $1,000

Purchases Fuel on account $700

Credit Sales $25,000

Collects from Customers $6,000

Receives advances from customers $3,000

At the end of the month, the remaining supplies is 500