The following transactions occurred for Molina Engineering:

Requirements

1. Open the following T-accounts for Molina Engineering: Cash; Accounts Receivable; Supplies; Equipment; Accounts Payable; Notes Payable; Molina, Capital; Molina, Withdrawals; Service Revenue; and Utilities Expense.

2. Post the journal entries to the T-accounts. Also transfer the dates to the T-accounts.

3. Compute the July 31 balance for each account.

Transcribed Image Text:

Jul. 2 4 5 Received $10,000 contribution from Ruby Molina, owner, in exchange for capital. Paid utilities expense of $400. Purchased equipment on account, $2,100. 10 Performed services for a client on account, $2,000. 12 19 Borrowed $7,000 cash, signing a notes payable. Molina withdrew $500 cash from the business. 21 Purchased supplies for $800 and paid cash. 27 Paid the liability from July 5.