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Question $3$: Prepare journal entries for the August transactions of Speedy People, Inc.

Aug. $1$

Aug. $3$

Aug. $6$

Aug. $13$

Aug. $15$

Aug. $23$

Aug. $28$

Aug. $31$

Received $$467500$ cash for common stock issued to owners.

Paid cash $$9500$ for $6$ months of rent.

Purchased supplies for $$380$ on account.

Paid $$2480$ salaries to employees.

Received downpayment of $$1700$ from customer on work to be performed in the next month Received the $$350$ utility bill to be paid next month.

Performed laundry services for $$2780$ cash.

Received $$2587$ cash from customers as payment on account.

Date

Account Name

Debit

Credit

Points A

Aug. $1$

Aug. $3$

Aug. $6$

Aug. $13$

Aug. $15$

Aug. $23$

Aug. $28$

Aug. $31$