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what is the right answer for each blank? The following transactions occurred for Lawrence Engineering Click the icon to view the transactions ) Click the
what is the right answer for each blank? The following transactions occurred for Lawrence Engineering Click the icon to view the transactions ) Click the icon to view the journal entries) Read the requirements Requirement 1. Post the journal entries to the T-accounts. Use the dates as posting references in the T-accounts We will post to the accounts one transaction at a time Begin by posting the event from the 2nd Received $18,000 contribution from Bill Lawrence, owner, in exchange for capital (We will post to the accounts one transaction at a time. Post only the transaction from July 2 in this step.) Cash Accounts Payable Service Revenue Jul 2 18,000 Jul 27 2,600 2,600 Jul 5 3,300 Jul 10 Jul 10 Accounts Receivable 3,300 Notes Payable 6,600 Jul 12 Utilities Expense 450 Jul 4 Office Supplies 830 Jul 21 Lawrence, Capital 18,000 Jul. 2 Equipment 2,600 Jul 5 Lawrence, Withdrawals Jul 19 500 More Info Jul. 2 Received $18,000 contribution from Bill Lawrence, owner, in exchange for capital Jul. 4 Paid utilities expense of $450 Jul. 5 Purchased equipment on account, $2,600 Jul. 10 Performed services for a client on account, $3,300 Jul. 12 Borrowed S6,600 cash signing a notes payable Jul. 19 The owner, Bill Lawrence, withdrew $500 cash from the business Jul. 21 Purchased office supplies for $830 and paid cash. Jul. 27 Paid the liability from July 5. Reference Date Accounts and Explanation Debit Credit Jul 2 Cash 18,000 18,000 450 450 2,600 2,600 Lawrence, Capital Owner contribution Jul 4 Utilities Expense Cash Paid cash expenses Jul. 5 Equipment Accounts Payable Purchase of equipment on account. Jul. 10 Accounts Receivable Service Revenue Performed services on account. Jul 12 Cash Notes Payable Borrowed cash by signing note. Jul 19 Lawrence, Withdrawals 3,300 3,300 6,600 6,600 500 Reference 2,600 Jul. 10 3,300 3,300 Accounts Payable Purchase of equipment on account. Accounts Receivable Service Revenue Performed services on account Cash Notes Payable Borrowed cash by signing note Lawrence, Withdrawals Cash Jul 12 6,600 6,600 Jul 19 500 500 Owner withdrawal Jul 21 Office Supplies 830 830 Cash Purchase of office supplies with cash Accounts Payable Jul 27 2,600 Cash 2,600 Paid cash on account
what is the right answer for each blank?
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