For the transactions listed below - prepare journal entries for each of the transactions listed:

1. Shawn Dahl invested $45,000 in cash to open the business

2. Paid $12,700 in cash for the purchase of kayak and canoe equipment

3. Paid $1,050 in cash for rent expense

4. Purchased kayak and canoe equipment for $3,800 on credit

5. Received $3,900 in cash for kayak rentals

6. Rented canoes and kayaks for $1,200 on account

7. Purchased office equipment for $125 in cash

8. Received $800 in cash from credit clients

9. Shawn Dahl withdrew $1,500 in cash for personal expenses

Answer rating: 100% (QA)

Journal Entries Date Entries Debit Credit 1 Shawn Dahl Business Account Cash Account 45000 45... View the full answer