Transparency Master 1-13 RECORDING BUSINESS TRANSACTIONS 2007 Jim's Lawn Care may ! Jim Hamilton began a lawn care business in May by depositing $800 in a business bank account. May 4 4 Purchased lawnmowers and other lawn equipment on account, $1,000. mey. 3. Paid cash for supplies, $50. may s 4 Performed lawn care services for credit customers and billed them $700. May 1 Received $700 cash from the customers billed in #4. 15 6 Paid $1,000 cash for the lawn equipment purchased in #2. May. 19 Paid for an advertisement in a local newspaper, $150. BE Performed lawn care services for cash customers and immediately received $420. May 22 Paid wages to a part-time assistant, $85. May 23 Performed lawn care services for credit customers and billed them $600. Received an invoice from Gas-n-Go for gasoline purchased on account during May, $110. The invoice will not be paid until next month. may. 31 At the end of May, Jim withdrew $100 from the business for personal use. May is a May 20 YO May 26 28 cash Accounts Receivable Supplies lown Equipment Account Payable J. Hamilton, Capital J. Hamilton, Drawing Fees Earned Wages expense Advertising expense Gasoline expense cash Accounts Receivable Supplies lown Equipment Account Payable J. Hamilton, Capital J. Hamilton, Drawing Fees Earned Wages expense Advertising expense Gasoline expense