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T Accounts Mari a Sanchez began business as Sanchez Law Firm on November 1. Record the following ovember transactions by making entries directly to the
T Accounts Mari a Sanchez began business as Sanchez Law Firm on November 1. Record the following ovember transactions by making entries directly to the T-accounts provided. Then, prepare a tria balance, as of November 30. Feedback: a) Sanchez invested $15,000 cash and a law library valued at $6,000. b) Purchased $7,500 of office equipment from Johnson Bros. on credit. c) Completed legal work for a client and received $1,500 cash in full payment. d) Paid Johnson Bros. $3,500 cash in partial settlement of the amount owed. e) Completed $4,000 of legal work for a client on credit. f) Sanchez withdrew $2,000 cash for personal use. g) Received $2,500 cash as partial payment for the legal work completed for the client in (e). h) Paid $2,500 cash for the legal secretary's salary. M. Sanchez, Withdrawals Cash Office Equipment Accounts Receivable Accounts Payable Legal Fees Earned Law Library M. Sanchez, Capital Salaries Expense
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