Question: 2. (60 Points) Prepare in good form Journal Entries for the following transactions for Baker Co. during the month of September 2022. (no explanations required)
2. (60 Points) Prepare in good form Journal Entries for the following transactions for Baker Co. during the month of September 2022. (no explanations required) 91 Bob Baker invested $50,000 cash to start the business, Baker Co. 913. Paid \$1,500 for September rent. 915 Purchased equipment at a cost of $6,500. Paid $1,500cash, balance on a note payable. 917 Purchased and paid $1,200 for a one-year insurance policy. 9/9 Purchased supplies on account at a cost of $4000, payable in two weeks. 9/12 Provided $10,000 of service to a client, collected $3,000 cash, balance on account. 9/13 Hired 2 employees, salaries of $5,000 total are payable bi-weekly (every other week). 9/15 Purchased a $500 advertisement from the Daily News due by month end. 9/18 Collected $1,000 advance cash deposit from customer for service to be provided on 10/5. 9/21 Collected accounts receivable, $7,000 (see transaction on 9/12 ). 9/26 Paid accounts payable due, $4,000 (see transaction on 9/9 ). 9/27 Paid bi-weekly salaries $5,000. 9/28 Baker withdrew $2,500 cash for personal use. 9/29 Received $500 utility bill, payment due in two weeks. 9/30 Provided $2,000 of service and billed the client 9/30 Paid half the amount due the Daily News $250
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