EX 2-7 Transactions OBJ. 2: Simmons Consulting Co. has the following accounts in its ledger: Cash; Accounts Receivable; Supplies; Office Equipment; Accounts Payable; Michael Short, Capital; Michael Short, Drawing; Fees Earned; Rent Expense; Advertising Expense; Utility Expense; Miscellaneous Expense. Journalize the following selected transactions for October 20Y3 in a two-column journal. Journal entry explanations may be omitted.

October

1. Paid rent for the month, $4,800.

3. Paid advertising expense, $2,500.

5. Paid cash for supplies, $1,390.

6. Purchased office equipment on account, $10,670.

10. Received cash from customers on account, $19,730.

15. Paid creditors on account, $9,480.

27. Paid cash for miscellaneous expenses, $530.

30. Paid telephone bill (utility expense) for the month, $220.

31. Fees earned and billed to customers for the month, $38,620.

31. Paid electricity bill (utility expense) for the month, $1,540.

31. Withdrew cash for personal use, $6,700.