Selected transactions for Tina Cordero Company during its first month in business are presented below.
Sept. 1 Invested $10,000 cash in the business.
5 Purchased equipment for $12,000 paying $5,000 in cash and the balance on account.
25 Paid $3,000 cash on balance owed for equipment.
30 Withdrew $500 cash for personal use.
Cordero’s chart of accounts shows: No. 101 Cash, No. 157 Equipment, No. 201 Accounts Payable, No. 301 Tina Cordero, Capital; No. 306 Tina Cordero, Drawing.
Instructions
(a) Journalize the transactions on page J1 of the journal. (Omit explanations.)
(b) Post the transactions using the standard account form.