Sep 01:Mathew, the owner, invested $ 57,500 cash and $ 32,500 of photography equipment in the business. 04: Paid $ 3,000 cash for an insurance
Sep 01:Mathew, the owner, invested $ 57,500 cash and $ 32,500 of photography equipment in the business. 04: Paid $ 3,000 cash for an insurance policy covering the next 24 months. 07: Services are performed and clients are given some time to pay $ 10,000. 13: Purchased office supplies for $ 1,400. Cash paid $ 400 and remaining outstanding. 20: Received $ 2,000 cash in photography fees earned previously on Sep 07 24: The client immediately pays $ 15,000 for services performed. 29: The business acquires photography equipment. The purchase price is $ 100,000, pays $ 25,000 cash rest to be paid later on.
Make journal entries,Ledgers and trail balance
Step by Step Solution
There are 3 Steps involved in it
Step: 1
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started