Scott Jameson opened a translation business on January 2, 2017. During the first month of operations, the business completed the following transactions:
Jan. 2 The business received $60,000 cash from Jameson, which was deposited in a business bank account entitled Jameson Translation Service.
3 Purchased supplies, $750, and furniture, $2,800, on account.
3 Paid January's rent expense with cash, $1,100.
4 Performed translation services for a client and received cash, $2,250.
7 Paid $38,000 cash to acquire land for a future office site.
11 Translated a brochure for a client and billed the client $1,200.
15 Paid secretary salary, $975 cash.
16 Paid cash for the furniture purchased January 3 on account.
18 Received partial payment from a client on account, $600 cash.
19 Translated legal documents for a client on account, $11,350.
22 Paid cash for the water and electricity bills, $300.
29 Received $2,700 cash for translation for a client in an overseas business transaction.
31 Paid secretary salary, $975 cash.
31 Jameson withdrew $12,000 cash for personal use.
Required
Record each transaction in the journal with an explanation, using the account titles given. Use the following accounts: Cash; Accounts Receivable; Supplies; Furniture; Land; Accounts Payable; Scott Jameson, Capital; Scott Jameson, Withdrawals; Translation Revenue; Rent Expense; Salary Expense; Utilities Expense.