Question: B correct or incorrect for the work you have completed so far. It does not indicate comp Exercise 2-9 Recording effects of transactions in T-accounts
B correct or incorrect for the work you have completed so far. It does not indicate comp Exercise 2-9 Recording effects of transactions in T-accounts LO A1 The transactions of Spade Company appear below. a. Kacy Spade, owner, invested $100,750 cash in the company in exchange for common stock. b. The company purchased office supplies for $1,250 cash. c. The company purchased $10,050 of office equipment on credit. d. The company received $15,500 cash as fees for services provided to a customer. e. The company paid $10,050 cash to settle the payable for the office equipment purchased in transaction c. f. The company billed a customer $2,700 as fees for services provided. g. The company paid $1,225 cash for the monthly rent. h. The company collected $1,125 cash as partial payment for the account receivable created in transaction 1. The company paid $10,000 cash in dividends to the owner (sole shareholder) Required: 1. Prepare general journal entries to record the transactions above for Spade Company by using the following accounts: Cash: Accounts Receivable; Office Supplies; Office Equipment: Accounts Payable; Common Stock: Dividends: Fees Earned; and Rent Expense. Use the letters beside each transaction to identify entries. 2. Post the above journal entries to T-accounts, which serve as the general ledger for this assignment. Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Naut
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