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The transactions of Spade Company appear below. K. Spade, owner, invested $16,750 cash in the company. The company purchased supplies for $486 cash. The company

The transactions of Spade Company appear below.

  1. K. Spade, owner, invested $16,750 cash in the company.
  2. The company purchased supplies for $486 cash.
  3. The company purchased $9,263 of equipment on credit.
  4. The company received $1,977 cash for services provided to a customer.
  5. The company paid $9,263 cash to settle the payable for the equipment purchased in transaction c.
  6. The company billed a customer $3,551 for services provided.
  7. The company paid $525 cash for the monthly rent.
  8. The company collected $1,491 cash as partial payment for the account receivable created in transaction f.
  9. K. Spade withdrew $1,100 cash from the company for personal use.

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; K. Spade, Capital; K. Spade, Withdrawals; Services Revenue; and Rent Expense.
  2. Post entries to T-accounts and the ending balances will be calculated.

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