The chart of accounts for Kim’s Tree Trimming Service is as follows:

Kim’s Tree Trimming Service completed the following transactions during the month of October:
A. Sam Kim invested $30,000 in the tree trimming service from his personal savings account.
B. Bought used trucks on account, $5,000.
C. Bought office equipment for cash, $1,200.
D. Paid advertising expense, $250.
E. Collected cash for tree trimming services rendered, $2,600.
F. Paid laborers’ salaries, $650.
G. Paid gas expense for trucks, $1,600.
H. Performed tree trimming services for a customer on account, $1,500.
I. Telephone expense due but unpaid, $700.
J. Received $100 as partial payment of Transaction H.
K. Sam withdrew cash for personal use, $700.

Transcribed Image Text:

Chart of Accounts Revenue Tree Trimming Fees Earned 411 Expenses Advertising Expense 511 Gas Expense 512 Salaries Expense 513 Telephone Expense 514 Assets Cash 111 Accounts Receivable 112 Office Equipment 121 Trucks 122 Liabilities Accounts Payable 211 Owner's Equity Sam Kim, Capital 311 Sam Kim, Withdrawals 312