Question: PART B - Question 2 (18 marks) M. H. Acosta, CA, completed these transactions during November of the current year: Nov. 1 Began a

PART B - Question 2 (18 marks) M. H. Acosta, CA, completed

PART B - Question 2 (18 marks) M. H. Acosta, CA, completed these transactions during November of the current year: Nov. 1 Began a public accounting practice by investing $4,000 in cash and office equipment having a $3,300 fair value. Purchased on credit office equipment, $900, and office supplies, $150. Completed accounting work for client and immediately received a payment of $400 cash. Completed accounting work on credit for Acme Loan Co., $600. Paid for the items purchased on credit on November 2. Paid the annual $800 premium on an insurance policy. Received payment in full from Acme Loan Co. for the work completed on November 8. M. H. Acosta withdrew $650 cash from the practice to pay personal expenses. Paid the November utility bills, $140. Nov. 2 Nov. 4 Nov. 8 Nov. 10 Nov. 14 Nov. 18 Nov. 27 Nov. 30 Prepare general journal entries to record the transactions.

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