Zeb Slipewicz opened a renovation business called WeReDoIt Construction on September 3, 2017. During the first month of operations, the business completed the following transactions:
Sep. 3 Zeb deposited a cheque for $72,000 into the business bank account to start the business.
4 Purchased supplies, $600, and furniture, $4,400, on account.
5 Paid September rent expense, $1,500 cash.
6 Performed design services for a client and received $2,400 cash.
7 Paid $44,000 cash to acquire land for a future office site.
10 Designed a bathroom for a client, billed the client, and received her promise to pay the $5,800 within one week.
14 Paid for the furniture purchased September 4 on account.
15 Paid assistant's salary, $940 cash.
17 Received cash on account, $3,400.
22 Received $5,000 cash from a client for renovation of a cottage.
25 Prepared a recreation room design for a client on account, $1,600.
30 Paid assistant's salary, $940 cash.
30 Zeb withdrew $5,600 cash for personal use.
Required
Record each transaction in the journal with an explanation. Identify each transaction by date. Use the following accounts: Cash; Accounts Receivable; Supplies; Furniture; Land; Accounts Payable; Z. Slipewicz, Capital; Z. Slipewicz, Withdrawals; Service Revenue; Rent Expense; Salary Expense.