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To start her own business, Patricia Wilson put $25,800 of her personal cash into the business account. Given the following additional transactions calculate the ending
To start her own business, Patricia Wilson put $25,800 of her personal cash into the business account. Given the following additional transactions calculate the ending balance of each of the following accounts after all journal entry amounts are posted: Cash, Supplies, Supplies Expense, Prepaid Rent, and Rent Expense Item Ref. Debit Credit Description Supplies 1 1,410 Cash $ 23,550 Cash 1,410 Supplies 1,025 2 Supplies Expense 385 Supplies Expense 385 Supplies 385 Prepaid Rent 0 3 Prepaid Rent 840 Rent Expense 670 Cash 840 ? 4 Rent Expense 670 Prepaid Rent 670
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