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The following are transactions for Lowe's Repair Services. Journalize the transactions in the proper form and prepare a trial balance for the business for the
The following are transactions for Lowe's Repair Services. Journalize the transactions in the proper form and prepare a trial balance for the business for the period June 2022. 2022 June 1 A. Lowe invested $7,000 cash and $5,000 worth of repair equipment in the business. 1 Paid two months' rent in advance, $1,200. 4 Bought repair supplies from Melvin Co. on account, $600. (These sup- plies have not yet been consumed or used up.) 15 Performed repair work, received $600 in cash, and had to bill Doe Co. for remaining balance of $300. 18 A. Lowe paid his home telephone bill, $50, using a company cheque. 22 Advertising bill for $400 from Jones Co. was received, but payment was not due yet. (Advertising has already appeared in the newspaper.) 25 Paid salaries, $1,400
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