CHAPTER 3 Beginning the Accounting Cycle 97 Set B 3B- Jarad Stone operates Jarad's Cleaning Service. As the bookkeeper, you have L01 (30 min) been requested to journalize the following transactions: 201X Check Figur May 21 May Paid 2 months rent in advance, $12,000 6 Purchased cleaning equipment from Emery's Supply House for $6,000 on account. Dr. Advertising expense $300 12 Purchased cleaning supplies from Littleton's Wholesale for $1,000 cash. 14 Received $1,900 cash from cleaning fees earned. 20 Jarad withdrew $450 for personal use. 21 Advertising bill received from Morning News but unpaid, 300. 25 Paid electrical expense, $80. 28 Paid salaries expense, $1,100 29 Performed cleaning work for $1,800, but payment will not be received until July 0 Paid Emery's Supply House half the amount owed from the May 6 transaction. Cr. Accounts payable $300 The chart of accounts for Jarad's Cleaning Service is as follows: Chart of Accounts Assets Owner's Equity 311 312 Revenue 411 Cleaning Fees Earned Expenses 511 Advertising Expense 512 514 Cash Jarad Stone, Capital Jarad Stone, Withdrawals 112 114 Prepaid Rent 116 Cleaning Supplies 120 Cleaning Equipment 121 Liabilities 211 Accounts Receivable Office Equipment Electrical Expense Salaries Expense Accounts Payable