The transactions of Spade Company appear below.

a.Kacy Spade, owner, invested $10,500 cash in the company.

b.The company purchased office supplies for $305 cash.

c.The company purchased $5,807 of office equipment on credit.

d.The company received $1,239 cash as fees for services provided to a customer.

e.The company paid $5,807 cash to settle the payable for the office equipment purchased in transactionc.

f.The company billed a customer $2,226 as fees for services provided.

g.The company paid $510 cash for the monthly rent.

h.The company collected $935 cash as partial payment for the account receivable created in transactionf.

i.Kacy Spade withdrew $1,000 cash from the company for personal use.

Required:

1.Prepare general journal entries to record the transactions above for Spade Company by using the following accounts: Cash; Accounts Receivable; Office Supplies; Office Equipment; Accounts Payable; K. Spade, Capital; K. Spade, Withdrawals; Fees Earned; and Rent Expense. Use the letters beside each transaction to identify entries.

2.Post the abovejournal entries to T-accounts, which serve as the general ledger for this assignment.

Prepare general journal entries to record the transactions above for Spade Company by using the following accounts: Cash; Accounts Receivable; Office Supplies; Office Equipment; Accounts Payable; K. Spade, Capital; K. Spade, Withdrawals; Fees Earned; and Rent Expense. Use the letters beside each transaction to identify entries.