Question
Travis Services is an office cleaning company. Consider Travis Services' transactions during its first month of operations, April, as described: Stanley Travis invested $18,680 in
Travis Services is an office cleaning company. Consider Travis Services' transactions during its first month of operations, April, as described: Stanley Travis invested $18,680 in cash to form Travis Services. Performed services for a client on the account, $6,530. Purchased equipment with cash, $12,920. Performed services for a customer who paid cash, $7,150. Purchased supplies with cash, $3,480. Stanley withdrew $1,000 in cash from the company Use the following T accounts to record these transactions. You will need to record the transactions in the order in which they occurred (a through f). In each account, use the first available space (working from top to bottom) on the debit or credit side of the T account, whichever is appropriate.
Cash | |||
---|---|---|---|
Dr. | Cr. | ||
Accounts Receivable | |||
---|---|---|---|
Dr. | Cr. | ||
Supplies | |||
---|---|---|---|
Dr. | Cr. | ||
Equipment | |||
---|---|---|---|
Dr. | Cr. | ||
Fees Earned | |||
---|---|---|---|
Dr. | Cr. | ||
S. Travis, Capital | |||
---|---|---|---|
Dr. | Cr. | ||
S. Travis, Withdrawals | |||
---|---|---|---|
Dr. | Cr. | ||
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