Question
you are an accountant of Rapid Transport Service. The following information is available about the entitys business transactions in June 2019. June 1 Owner invested
you are an accountant of Rapid Transport Service. The following information is available about the entitys business transactions in June 2019.
| June | 1 | Owner invested $50,000 in the business |
|
| 5 | Purchased equipment for $6,000, paid $2,000 in cash and agreed to pay the rest in 30 days |
|
| 7 | Paid office rent for the next six months 10,000 |
|
| 12 | Sent an invoice to a client for the service provided 2,500 |
|
| 14 | Received an advance payment of $8,000 from a client for the service will be provided in next 3 months |
Required: Prepare general journal entries for Rapid Transport Service. Ignore GST. You may wish to copy the table below when answering this question
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