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The following transactions occurred during the May of the current year, first month of operations for Bytes Consultant Services. (1) Please journalize the transactions, (Skip
The following transactions occurred during the May of the current year, first month of operations for Bytes Consultant Services. (1) Please journalize the transactions, (Skip lines between entries) (2) Post the transactions to the General Ledger accounts on the following pages, (3) Pull a Trial Balance from your ledger and complete the worksheet Transactions May 1 Bytes invested $20,000 cash in the business. May 1 Paid $1,000 for rent for May. May 1 Purchased equipment for $25,000, paying $10,000 in cash and giving a Note Payable for the remainder. May 16 Billed clients for fees earned, $6,940. May 12 Paid creditors on account, $1,000. May 17 Received $2,500 in cash for consulting fees earned. May 19 Received cash from customers on account, $4,200. May 30 Paid wages expenses, $5,000. May 31 Owner withdrew $1,000 cash for personal use
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