Record the following selected transactions for March in a two-column journal, identifying each entry by letter (a)

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Record the following selected transactions for March in a two-column journal, identifying each entry by letter

(a) Received $10,000 from Shirley Knowles, owner.

(b) Purchased equipment for $35,000, paying $10,000 in cash and giving a note payable for the remainder.

(c) Paid $1,000 for rent for March.

(d) Purchased $8,500 of supplies on account.

(e) Recorded $2,500 of fees earned on account.

(f) Received $11,000 in cash for fees earned.

(g) Paid $200 to creditors on account.

(h) Paid wages of $1,250.

(i) Received $1,150 from customers on account.

(j) Recorded owner's withdrawal of $1,850.

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Fundamental Accounting Principles

ISBN: 978-0071051507

Volume I, 14th Canadian Edition

Authors: Larson Kermit, Tilly Jensen

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