The following transactions occurred for Mitchells Hair supply. Use the sheets provided or feel free to create your own

1. Put each transaction on the Accounting equation
2. Transfer the transactions from the Accounting equation onto T accounts
3. Journalize each transaction

1. Mitchell invested $25000 into his business in exchange for Capital Stock
2. The Beauty Supply store purchased $5000 worth of Supplies on Account
3. Mitchells Busty Supply purchased Equipment for $8,500, paid $2,250 down, with the remainder to be paid later.
4. The Beauty Supply store collected $6700 from customers for products purchased.
5. The Beauty Supply store paid the following expenses wages $1245.00, Utilities 450.00, Rent $1000.00, and Misc. expense $750.00