Practice question

Journalize the following transactions for March 2020, first month in operations for Raman Day Care.

1. The owner Raman Kaur invests $20,000 cash in the business Raman Day Care.
2. The company purchases supplies by paying $1,500 cash.
3. The company purchases supplies for $2,000 on credit.
4. The company purchases office furniture for $3,600 on credit by signing a promissory note.
5. Services rendered for $4,800 cash.
6. Payment of $2,000 rent expense in cash.
7. Payment of $1,200 salaries expense in cash.
8. Two customers signed a service contract for April.
9. Service revenues of $4,800 rendered for credit.
10. Receipt of $3,600 cash on account (see #9).
11. Payment of $1,000 accounts payable (see #3).
12. Collected cash as per #9.
13. Paid the owing balance as per #3.
14. Withdrawal of $1,600 cash by owner.

Date	Accounts	Debit	Credit