The transactions of Spade Company appear below.

K. Spade, owner, invested $10,000 cash in the company in exchange for common stock.

The company purchased supplies for $290 cash.

The company purchased $5,530 of equipment on credit.

The company received $1,180 cash for services provided to a customer.

The company paid $5,530 cash to settle the payable for the equipment purchased in transaction c.

The company billed a customer $2,120 for services provided.

The company paid $530 cash for the monthly rent.

The company collected $890 cash as partial payment for the account receivable created in transaction f.

The company paid a $1,000 cash dividend to the owner (sole shareholder).

Exercise 2-13 (Algo) Recording effects of transactions in T-accounts LO A1

Required: 1. Prepare general journal entries to record the transactions of Spade Company by using the following accounts: Cash; Accounts Receivable; Supplies; Equipment; Accounts Payable; Common Stock; Dividends; Services Revenue; and Rent Expense. 2. Post entries to T-accounts and the ending balances will be calculated.

Prepare general journal entries to record the transactions of Spade Company by using the following accounts: Cash; Accounts Receivable; Supplies; Equipment; Accounts Payable; Common Stock; Dividends; Services Revenue; and Rent Expense.