AshKach TokTik established a consulting business called GrowWealth Consultants on March 1, 2023. The company completed...

 

Transcribed Image Text:

AshKach TokTik established a consulting business called GrowWealth Consultants on March 1, 2023. The company completed the following transactions and events. DATE TRANSACTION/EVENT Mar 1 The owner invested cash of $5,000, office equipment worth $2,500, and furniture valued at $2,000 into the business 3 Purchased office supplies for $3,200 cash 4 Purchased additional office equipment for $10,000 on credit. The amount is due in 30 days. 5 Provided consulting services to a client for $16,000 cash. 7 Provided consulting services to another client for $7,600 on credit. The client agreed to pay the full amount within 10 days. 11 Purchased more additional office supplies costing $2,800 on credit. The bill is due within 30 days. 17 Paid for a 6-months insurance policy, $6,000, starting on the 17th. This insurance policy covers the next 6 months. 17 The customer who owed $7,600 paid the entire amount in full. 22 Provided more consulting services to a client on credit for $10,000. The client promised to pay the amount in two installments within the next 20 days. 29 Received cash of $8,000 from a client for consulting services to be provided in May 2017. 31 Paid $1,800 cash for the month's utility bill. Apr 4 Paid $10,000 cash for the equipment that was purchased on March 4th. 6 The owner withdrew $5,700 cash from the business. 7 The customer who received services on March 22 paid $5,000 as partial payment. EQUIRED: Prepare the required general journal entries for the above transactions. AshKach TokTik established a consulting business called GrowWealth Consultants on March 1, 2023. The company completed the following transactions and events. DATE TRANSACTION/EVENT Mar 1 The owner invested cash of $5,000, office equipment worth $2,500, and furniture valued at $2,000 into the business 3 Purchased office supplies for $3,200 cash 4 Purchased additional office equipment for $10,000 on credit. The amount is due in 30 days. 5 Provided consulting services to a client for $16,000 cash. 7 Provided consulting services to another client for $7,600 on credit. The client agreed to pay the full amount within 10 days. 11 Purchased more additional office supplies costing $2,800 on credit. The bill is due within 30 days. 17 Paid for a 6-months insurance policy, $6,000, starting on the 17th. This insurance policy covers the next 6 months. 17 The customer who owed $7,600 paid the entire amount in full. 22 Provided more consulting services to a client on credit for $10,000. The client promised to pay the amount in two installments within the next 20 days. 29 Received cash of $8,000 from a client for consulting services to be provided in May 2017. 31 Paid $1,800 cash for the month's utility bill. Apr 4 Paid $10,000 cash for the equipment that was purchased on March 4th. 6 The owner withdrew $5,700 cash from the business. 7 The customer who received services on March 22 paid $5,000 as partial payment. EQUIRED: Prepare the required general journal entries for the above transactions.