Record the following selected transactions for March in a two-column journal, identifying each entry by letter:

(a) Received $10,000 from Shirley Knowles, owner.

(b) Purchased equipment for $35,000, paying $10,000 in cash and giving a note payable for the remainder.

(c) Paid $1,000 for rent for March.

(d) Purchased $8,500 of supplies on account.

(e) Recorded $2,500 of fees earned on account.

(f) Received $11,000 in cash for fees earned.

(g) Paid $200 to creditors on account.

(h) Paid wages of $1,250.

(i) Received $1,150 from customers on account.

(j) Recorded owner's withdrawal of $1,850.

ANS:

(a)

(b)

(c)

(d)

(e)

(f)

(g)

(h)

(i)

(j)

Answer rating: 100% (QA)

Credit Debit 10000 Transaction Accounts Titles and Exp... View the full answer